Quicken Loans and Bedrock Founder Dan Gilbert Recovering After Suffering Stroke
Since its founding, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties, including new construction of ground up developments in Downtown Detroit and Cleveland, totaling more than 18 million square feet.
ROYAL OAK, MI—Detroit billionaire businessman and founder of Quicken Loans Dan Gilbert is reportedly recovering at Royal Oak Beaumont hospital here after suffering a stroke on Sunday.
The 57-year-old, who has committed billions of dollars to real estate projects in Detroit and Cleveland, was resting comfortably in the intensive care unit after a catheter-based procedure was performed immediately after Gilbert suffered a stroke at the hospital, according to a report in the Detroit Free Press.
In a statement released by Quicken Loans, the company stated, “Dan was not feeling well Sunday morning so he was taken to the hospital by a family friend. While under care at the hospital, he suffered a stroke and was immediately taken in for a catheter-based procedure, then moved to recovery in the Intensive Care Unit.”
The company added, “Dan is awake, responsive and resting comfortably. Dan and his family are immensely grateful to the doctors and nurses whose early intervention is already paying dividends toward his recovery.”
Gilbert, the owner of the NBA’s Cleveland Cavaliers, began moving his family of companies to Detroit’s central business district in 2010 in an effort to help lead the revitalization of the city. In 2011, he co-founded Detroit-based Bedrock, a full-service real estate firm specializing in acquiring, leasing, financing and managing commercial and residential space. Since its founding, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties, including new construction of ground up developments in Downtown Detroit and Cleveland, totaling more than 18 million square feet.
In late April, Bedrock announced that UBS Financial Services Inc. will open a new 11,000-square-foot office at 1201/1217 Woodward in Detroit, which spans two historic buildings located on the corner of Woodward Avenue and State Street. UBS will open with 10 financial advisors overseeing $2.6 billion assets under management.
1201/1217 Woodward is owned by Bedrock and has recently undergone extensive renovations. The lease deal represents an expansion of UBS’s investment in the metro-Detroit region and establishes the firm’s presence in the city for the first time.