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TROY, MI-iCap Realty Advisors has closed on almost $3 million in two seperate loans from two area bar/restaurant/retail facilities.

Ken Marblestone from iCap’s Troy closed on a $1.3 million loan for the Post Bar in Mount Clemens, for an existing 11,000-sf mixed use office/retail facility. The loan, provided by a local bank at 275 basis points over LIBOR, has a 5-year term with a 20-year amortization.

Marblestone also closed on a $1.5 million loan for the Post Bar in Auburn Hills for an existing 5,100-sf bar/restaurant. The loan, provided by a local bank at 275 basis points over LIBOR, has a 5-year term with a 20-year amortization.

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