Prabin Dutta & Sangeeta Dutta Acquire Multifamily Portfolio In Warren, Middletown, And Dearborn Heights For $5.85M

A multifamily property located at 6988 Ready Ave., 3350 South Main Street, and 4128 Pelham Street, in Warren, MI, Middletown, OH, and Dearborn Heights, MI was involved in a closed transaction. The property consists of 224 units and was refinanced with a loan amount of $5,850,000. The loan was a CMBS (Commercial Mortgage-Backed Securities) with a 10-year fixed term and included a cash out refinance option.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,850,000
• Address: 6988 Ready Ave., 3350 South Main Street, and 4128 Pelham Street
• Market: Warren, MI, Middletown, OH, Dearborn Heights, MI
• Units: 224

Nihad Choudhury from LMF Commercial (A Lennar Co.) acted as the lender for the transaction. The landlords involved in the deal were Prabin Dutta and Sangeeta Dutta. The brokers, Gerry DiMarco and Pierce Redmond from Security Mortgage Group, represented the parties in the transaction.