$8M Loan Propels First Phase of Condo Project

WESTLAND, MI-A 104-unit condominium project on a 29-acre site is in the works after Charter One Bank provides a mortgage, arranged through iCap's Detroit office.

By Dan Heaton | August 23, 2004 at 08:39 AM

The loan will finance acquisition, development and construction loan for the first phase of a 104-unit attached condominium development in Westland, says Larry Hardwood, who closed the loan for iCap.

The development is being constructed on a 29-acre site consisting of 26 four-plex buildings.

NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.

1 Multifamily Faces Steepest Price Drop Since 2008

2 CRE Shows First Signs of Stress From Tariff Uncertainty

3 Top 10 Cities See Fewer New Jobs While Texas Markets Reshuffle Rankings

4 Southern Cities Sweep Top 10 Best Cities for Renters

5 Retail Added to Massive Industrial Park in Bid to Attract and Retain Talent

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information

Senior Housing Lenders Report Greater Appetite for Loans While New Deal Flow Gains Momentum

By Kristen Smithberg | July 02, 2025

The lenders report increased competition and thinner spreads.

Senior Housing Lenders Report Greater Appetite for Loans While New Deal Flow Gains Momentum

CRE Shows First Signs of Stress From Tariff Uncertainty

By Erik Sherman | July 02, 2025

Liquidity concerns are growing as investors brace for a delayed impact.

CRE Shows First Signs of Stress From Tariff Uncertainty

CRE Finds Its Footing as Price Gaps Narrow

By Erik Sherman | June 30, 2025

If the trend continues, it could mean that price CRE discovery has finally taken hold.

CRE Finds Its Footing as Price Gaps Narrow

2025 State of Renter Delinquency and Default link

Report

Sponsored by TheGuarantors

2025 State of Renter Delinquency and Default

Renter default is a critical challenge. This report, based on a survey of 400+ multifamily professionals, reveals key trends, economic drivers, and mitigation gaps to help you build resilience in 2025. You'll gain insights into the root causes of renter default, the operational strains it can put on your portfolio, and strategies you can leverage to protect your investments and maintain stability.

Browse More Resources ›

CRE Property Management Assessment: Your Building Operations Scorecard link

Assessment

Sponsored by Building Engines

CRE Property Management Assessment: Your Building Operations Scorecard

How do your building operations measure up? Use this detailed scorecard to evaluate your operational approach across five key areas.

Browse More Resources ›

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze link

White Paper

Sponsored by TheGuarantors

5 Strategic Moves to Protect Your Multifamily NOI in 2025's Squeeze

Skyrocketing economic uncertainty means it’s essential for multifamily owners and operators to strengthen risk mitigation capabilities. Discover expert insights from industry experts, including the President of NMHC, to tackle 2025 challenges such as slower lease-ups, cost pressures, renter fraud, high reliance on concessions, and more.

Browse More Resources ›