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TAYLOR, MI-A $13.8-million loan will help build an 88-unit condominium development here. It is one of three recent loan deals arranged by iCap Michigan.

iCap’s Larry Harwood brokered the $13.8-million acquisition, development and construction loan from Republic Bank for the condominium development being constructed on a 21-acre site. It will consist of 22 four-plex buildings.

Harwood also closed an $8.9-million acquisition, development and construction loan for a 52 unit condominium development in Canton. The development is being constructed on a 20-acre site consisting of 13 four-plex buildings. The financing was provided by Franklin Bank.

iCap’s Jason Brown closed a $1.6-million loan on the Huszti Building, a 14,324-sf medical office building located in Milford. A 10-year fixed-rate, 30-year amortized, non-recourse loan was placed with Lehman Brothers closing at 5.65 %.

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