FArmington Hills, Michigan (October 4, 2018) – Friedman Finance is pleased to announce that it recently arranged a $13.6 million loan for a newly constructed 116 unit, Class A multifamily community located in East Lansing, Michigan. The loan features a 30-year term with a fixed rate below 4.5%. The loan was originated by Ryan Denomme, Director of Friedman Finance, and was closed with a well-respected life insurance company on behalf of one of the company’s longstanding clients.
“We timed this deal perfectly,” said Denomme. “The client was able to lock in a great rate 90 days prior to close while finishing construction of their final units. Treasury rates increased during the rate lock period providing a great benefit to the client on a loan that was already almost 0.75% below comparable Fannie Mae options.”
Friedman Finance specializes in matching investors and owners of commercial real estate with sources of capital. Utilizing our network of banks, credit unions, life insurance companies, CMBS lenders and private equity investors, we provide debt and equity solutions for investment real estate projects of all types. Friedman Finance is a subsidiary of Friedman Real Estate.
ABOUT FRIEDMAN REAL ESTATE
As one of the largest privately-held full-service commercial real estate organizations in the nation, Friedman Real Estate provides clients with a single point of contact for the full range of Advisory, Property Management, Brokerage and Construction services that it offers.
Friedman manages more than 140 commercial properties encompassing more than 16M SF and more than 11,000 apartment homes throughout the United States. Friedman’s brokerage team has over 800 current listings with $10 billion in closed transactions. As owners and managers of commercial property for 30 years, Friedman understands what it takes to achieve results that maximize their clients’ objectives.