Plaza Acquisition Deal
Byron Center, Michigan
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 Extensia Financial 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 Extensia Financial 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 Extensia Financial. “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.”