Hayman Places $9.5-Mil Loan for Apartments

WESTLAND, MI-A 426-unit suburban high-rise multifamily rental building is buoyed by a loan at 7.85% with a seven-year term arranged through Troy-based real estate company The Hayman Co.

By Robert Carr | October 29, 2001 at 01:01 AM

The loan was a Fannie Mae mortgage provided through Seattle-based Eichler Fayne & Associates. The interest rate was locked in at 7.85% with a term of seven years based on a 30-year amortization. The borrower is a group of private investors based in Michigan.

Hayman is a privately owned real estate company which owns and operates property in 12 states, specializing in the ownership and management of apartments, offices and hotels.

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