Multifamily Acquisition in Michigan

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The $7.3 million in HUD-insured acquisition financing for Woodview Village includes a low, fixed rate and 35-year term that is fully amortizing after 35 years. The 124-unit property, located just over a mile from downtown Marquette, is 100% occupied and comprises primarily one- and two-bedroom units. The property, made up of two non-contiguous parcels, is spread over 8.2 acres and 13 total buildings and has been renovated and upgraded in the last several years, enabling the property to further qualify for HUD’s Green Mortgage Insurance Premium (MIP) program for an even lower interest rate.  

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