Troy Place

Location: Troy, MI
Type: Office
Price: $40,000,000

SMC provided a $40,000,000 ten-year fixed rate loan to refinance the existing mortgage on Troy Place, a 756,845 SF class “B” office  complex in Troy, MI, directly adjacent to the Somerset Collection – the premier luxury shopping destination in Michigan – and approximately 19 miles north of the Detroit CBD.  The Subject, built in phases between 1973 and 1978, and extensively renovated over the past four years, was 75% leased to approximately 130 tenants.