WeLend Provides $1.4M Loan For Detroit Multifamily Property

A multifamily property in Detroit, MI recently closed a loan transaction. The property spans approximately 28,200 square feet and comprises 36 units.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,400,550
• Market: Detroit, MI
• Lender: WeLend

Acting as the lender, WeLend played a significant role in the deal. The loan amount for the transaction was $1,400,550. Ruben Izgerlov, Moses Suleymanov, and Solomon Suleymanov represented WeLend in the transaction.

WeLend provided financing for 75% of the purchase price and 100% of the construction cost. This financing arrangement allows the borrower to proceed with their plans for the property. WeLend is excited about the potential of this project and looks forward to helping others achieve similar successful deals nationwide.