96 West Detroit

96 West Detroit

Detroit, MI

$2,000,000

Real Estate Financing

Transaction Overview – 96 West Detroit, an established provisioning center, needed needed funds to convert an industrial building to a grow facilty.  The grow facility is next door to the existing provisioning center. In addition, funds were needed construct a parking lot across the street.

Significance of Transaction – The site had gone through numerous changes of ownership prior to the current owners purchasing it, which resulted in a quiet claim process that made the closing complicated, and threatened to delay the owner’s renovation plans in the face of lingering product shortages.

Seed To Sale Funding’s role – We structured a construction/bridge loan for the borrower using both properties as collateral.  We worked with a responsive lender and title company who were able to close 1 day after the quiet claim action was finalized.

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