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KALAMAZOO, MI –
Helvetica funded a $1,172,000
bridge loan for the purchase of an office building in Kalamazoo, MI.
The sponsors are seasoned real estate investors who identified a below market,
value-add
opportunity to purchase the building at well below replacement cost. The property was 100% occupied by a credit tenant and had been institutionally managed since it’s initial construction 15 years ago. The lease was expiring in less than a year and the tenant planned to vacate the building upon expiration.
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