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ANN ARBOR, MI-The locally based McKinley has arranged more than $18 million in loans for three properties, two of them in Michigan. The financing included a $15.2 million, non-recourse loan for the 152-unit Brighton Senior Housing, that has an attached 7,650-sf child care facility, in Brighton.

Aaron Klein with McKinley says the senior housing property loan was for 10 years, with a fixed rate and the first year as interest only, followed by a 30-year amortization schedule. The loan was for a refinance of the property, he says. “It’s an existing property, built in phases in the past 10 years,” Klein tells GlobeSt.com.

Klein also arranged a $1 million loan for a 10,800-sf mixed use property in Ypsilanti Township, for a 10-year loan with the first year as interest only, with a 30-year amortization schedule. The third loan was for a borrower of a 12,869-sf executive office suite property outside Atlanta, for $1.8 million. The loan has a seven-year, fixed-rate term and a 30-year amortization schedule.

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