Battle Creek Multifamily Portfolio

Location: Battle Creek and Springfield, MI
Type: Multifamily
Price: $11,500,000

SMC has provided a single $11,500,000 ten-year fixed rate first mortgage to refinance the existing debt collateralized by three apartment properties located in Battle Creek and Springfield, MI, known as the Battle Creek Multifamily Portfolio. The Portfolio has an aggregate unit count of 396 apartments that range in size from one to four bedrooms. The improvements were constructed between 1955 and 2001 and have been extensively renovated since the time of the Sponsor’s acquisition. The Portfolio is managed by an affiliate of the Sponsor – a private investor focusing on value-add state-wide acquisitions throughout Michigan.