Alana Woods Apartments

Location: Lansing, MI
Type: Multifamily
Price: $ 4,350,000

SMC has provided a $4,350,000 first mortgage loan used to refinance existing debt collateralized by Alana Woods Apartments, a 95% occupied, 92-unit, Class-B+ garden-style apartment property located in Lansing, MI. closing, the sponsor will execute a capital improvement program to improve unit interiors of 96 units, and upgrade common areas and on-site facilities. The improvements consist of eight two-story apartment buildings that were originally developed by the sponsor in 2002. Amenities include balconies/patios, granite countertops, vaulted ceilings, unit washer/dryers, and a playground area.