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W. Michigan Multifamily Market on an Upswing

GRAND RAPIDS, MI—Greystone has just provided a $25M loan to a multifamily operator here, and says the market has been getting stronger for several years.

By Brian J. Rogal | brianjrogal | Updated on June 03, 2016

grand rap-HiddenLakesKentwoodMI (3) Hidden Lakes in Kentwood, MI, a suburb of Grand Rapids.

GRAND RAPIDS, MI—Greystone, the New York-based lending and investment firm, has just provided a $25,058,000 Fannie Mae DUS® loan to refinance Hidden Lakes Apartments in Kentwood, MI, a suburb of Grand Rapids. Alliance Management has begun renovating the 384-unit property, and this loan will help it remain competitive in a multifamily market registering historically low vacancy and healthy rent growth.  

The transaction was originated by John Marr, a managing director at Greystone, on behalf of Alliance.

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