Bernard Monetary Group closes $ 74.9 million HUD-insured mortgage to refinance multi-family property in Ypsilanti
LITW LLC borrowed the funds for this multi-family asset from Ypsilanti.
YPSILANTI, MICH. – Bernard Monetary Group has entered right into a $ 74.9 million HUD-insured mortgage to refinance a multi-family property in Ypsilanti. The mortgage is the most important 223 (f) HUD mortgage in additional than 30 years, based on Southfield-based Bernard Monetary. The borrower was LITW LLC. Dennis Bernard and Dan Duggan of Bernard Monetary organized the mortgage with Gershman Mortgage. Mortgage phrases and property particulars weren’t disclosed.