Plaza Acquisition Deal
AVANA Companies provided financing to an established investment group to acquire a retail building in the Grand Rapids –Wyoming region of Michigan. The 74,197 square foot building located in Byron Center is 100% leased and includes two long term, investment grade credit rated tenants that drive traffic from two major freeways. Led by Matt Wilk, the team at AVANA CUSO Credit Union worked closely with the investment group to develop terms for the $4.025 million loan for the acquisition of the Kent County property.
“Our team at AVANA CUSO was happy to provide favorable terms for the borrowers to acquire this retail building with well known, stable tenants that are invested in this community now and for the future,” said Matt Wilk, VP CRE Originations at AVANA Companies AVANA CUSO. “This deal supports our shared commitment to aid in the stability and revitalization of the retail sector as it continues to rebound from the challenges of the past few years.”
About AVANA CUSO
Established in 1998, AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) with a focus on commercial real estate lending. Driving excellence through end-to-end customer service and our investments in technology, AVANA CUSO supports credit unions, including connecting them with commercial real estate entrepreneurs, brokers, and small business owners through participation lending.
Our mission is to help credit unions diversify their lending portfolios by expanding their lending programs beyond local communities, mitigating concentration risk while enhancing loan-to-share ratios.
Part of the AVANA Family of Companies, AVANA CUSO strives to improve communities by funding socially responsible projects that boost economic growth and foster job creation. AVANA CUSO is headquartered in Glendale, Arizona.
