JLL has successfully secured a $30 million financing deal for a multi-housing portfolio consisting of two properties in Michigan. The firm expertly arranged the refinancing for Davis Creek Apartments, a 407-unit complex in Portage, and Canterbury East, a 152-unit property located in Mt. Pleasant.
Working on behalf of borrower The Millennia Companies, JLL was able to secure the loan through Citigroup Inc. Led by Senior Director Jillian Mariutti and Director Alex Staikos, the JLL Capital Markets Debt Advisory team played an integral role in this transaction.
Originally built in 1969 and renovated in 2013, Davis Creek Apartments offers various unit types including studio apartments as well as one- and two-bedroom units. Conveniently situated at 5419 Meredith Street just minutes away from Downtown Kalamazoo with easy access to I-94.
Canterbury East was constructed back in1979 and boasts amenities such as a swimming pool, community room ,24-hour fitness center,and basketball courts . This property features both one- bedroom (82)and two-bedroom(70)units . Located at1517 Canterbury Trail,the complex is approximately an hour-and-a-half drive from Grand Rapids or Detroit making it easily accessible for residents.
