96 West Detroit
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.