* Scott Seltzer arranged the closing of a construction loan for approximately $1.5 million on a 27,000-sf single-tenant industrial building in Zilwaukee, MI. The construction term is over 24 months and closed at 3.61%. A permanent mortgage was also structured to take out the construction loan when the project is completed. The permanent note is based on a 10-year term with a 25-year amortization schedule. This project is the first of several on this 23-acre site located off the Zilwaukee Bridge. Gabrielle Investments, LLC, is the borrower.

* Larry Harwood closed an $8.6 million loan on Auburn Hills Apartments, located in Auburn Hills, MI. The complex consists of 10, 28-unit buildings for a total of 280 units. A 10-year fixed-rate, 30-year amortization schedule, non-recourse loan was placed with Nomura Credit and Capital closing at 5.25%.

* Harwood has closed a $8.25 million loan for 301 E. Liberty, in Ann Arbor, MI. A fixed-rate, first mortgage loan was placed on the Ann Arbor property, a seven-story, 77,000 gross sf office building. The property has over 20 tenants, including All Media Group and the University of Michigan. The loan closed at 5.60% on a ten-year term with a 30-year amortization schedule.