Seeking $26 Million Real Estate Bridge Loan

Now Accepting Letters of Interest


FUND: $26 million real estate loan ($34.96 psf)
COLLATERAL: 4 class A office buildings (743,690 sf)
LOCATION: West 11 Mile Road, Southfield, Michigan
PURPOSE: Take out existing mortgage
PORTFOLIO VALUE BASED ON APPRAISAL (as-is): $46,108,780* (i.e., $62.00 psf) (56% LTV)



Southfield Michigan is a major office hub containing approximately one‐tenth of the Detroit metropolitan market office space. The subject properties were previously the global headquarters of Blue Cross / Blue Shield and, as such, were built‐out to the highest quality standards. Since vacating, Skymark has leased 227,726 square feet to credit worthy tenants, Stefanini, Inc. and Federal Mogul.

The Detroit metropolitan office market has seen a resurgence of activity from both established and startup technology companies. A receiver was appointed in September 2018.

The receiver failed to make the October 1, 2018 mortgage payment or any payment since then, thereby putting the mortgage into default.

Teaser: Bridge Loan for Southfield MI Portfolio

Non-Disclosure Agreement for Additional Information



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Portfolio Value Based on Appraisal (as is):

  • $46,108,780  (i.e. $62.00 psf) (56% LTV)


Harold Bordwin
(646) 381-9201

Matt Bordwin
(646) 381-9202

Chris Mahoney
(646) 381-9205

Heather Milazzo
(646) 381-9207

Doug Greenspan
(646) 381-9218