Do you finance adaptive reuse projects in Detroit?

Yes. VS Capital Group structures bridge, construction, and historic-tax-credit-paired financing for adaptive reuse projects across Detroit, Grand Rapids, and other Michigan markets. We work with lenders that understand HTC compliance, brownfield incentives, and phased construction.

How do Michigan property tax reassessments affect underwriting?

Michigan uncaps taxable value at sale, so taxes step up to current state-equalized value at acquisition. Lenders model the post-acquisition tax bill, and we make sure underwriting reflects that before circling terms.

Can you place agency debt on stabilized Michigan multifamily?

Yes. Fannie Mae, Freddie Mac, and HUD all quote stabilized Michigan multifamily. We compare agency against bank, life-company, and CMBS options.

What loan sizes do you handle in Michigan?

We typically work on transactions from approximately $2M to $200M+ in Michigan. Smaller deals are often better served by community and regional banks.

Michigan Capital Markets

Michigan Commercial Real Estate Financing

VS Capital Group structures commercial real estate debt and equity across Michigan, from the Detroit metro and surrounding Macomb / Oakland / Wayne counties through Grand Rapids, Ann Arbor, Lansing, and the broader market. Michigan's mix of automotive, healthcare, university, and emerging tech corridors creates a distinctive lending environment that rewards capital providers who understand the local cost basis and demand drivers.

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Michigan Market

How capital markets look in Michigan today.

Michigan CRE is a steady, fundamentals-driven market. Multifamily demand in metro Detroit, Ann Arbor, and Grand Rapids continues to absorb new supply. Industrial, particularly automotive supply-chain and last-mile logistics, remains active. Office is mixed, with suburban and medical office outperforming downtown Detroit and Southfield.

Lenders quoting Michigan deals tend to be regional banks, life companies with Midwest portfolios, debt funds, and select agency / HUD shops. We know which lenders are active and which are sitting on the sidelines, and we structure accordingly.

What we finance in Michigan

Multifamily is the most consistent deal flow in Michigan. We arrange bridge debt for value-add acquisitions in metro Detroit, agency permanent debt on stabilized assets, and construction debt for ground-up product in Ann Arbor and Grand Rapids.

Industrial is the second most active product type. Automotive supply-chain consolidation, EV manufacturing investment, and last-mile logistics demand have all kept industrial absorption healthy. We've placed acquisition and construction debt for sponsors across the I-94 and I-75 corridors.

Adaptive reuse is a distinctly Michigan opportunity. Detroit, Grand Rapids, and Kalamazoo all have a stock of older industrial and commercial buildings being repositioned into multifamily, mixed-use, and creative office. These deals require lenders that understand historic tax credits, brownfield incentives, and phased construction.

Bridge loans for value-add multifamily and lease-up
Construction debt for multifamily, industrial, and mixed-use
Agency and HUD permanent debt
Life-company and CMBS for stabilized industrial
Historic tax credit and brownfield-paired financing
Mezzanine and preferred equity for development

Michigan underwriting realities

Michigan's property tax structure (uncapped at sale) means a similar reassessment dynamic to Texas, buyers should expect taxes to step up to current taxable value at acquisition. We make sure that's modeled correctly before lenders quote.

Insurance and weather (snow load, frost depth) factor into construction underwriting. Lenders with active Michigan portfolios price contingency appropriately; out-of-state lenders sometimes don't, which can lead to re-trades. We work with capital that knows the state.

Representative Michigan Transactions

Anonymized examples from our MI book.

Sponsor names and addresses withheld. Loan sizes, structures, and outcomes are representative of active VS Capital Group transactions.

Value-Add Multifamily

$22M

Detroit, MI

Structure

Bridge Debt

Outcome

Closed in 40 days

Industrial Construction

$31M

Grand Rapids, MI

Structure

Senior + Mezz

Outcome

Closed 2025

Adaptive Reuse

$18M

Detroit, MI

Structure

Bridge + HTC

Outcome

Funded with historic credits

Michigan FAQ

Frequently asked questions.

Do you finance adaptive reuse projects in Detroit?: Yes. VS Capital Group structures bridge, construction, and historic-tax-credit-paired financing for adaptive reuse projects across Detroit, Grand Rapids, and other Michigan markets. We work with lenders that understand HTC compliance, brownfield incentives, and phased construction.
How do Michigan property tax reassessments affect underwriting?: Michigan uncaps taxable value at sale, so taxes step up to current state-equalized value at acquisition. Lenders model the post-acquisition tax bill, and we make sure underwriting reflects that before circling terms.
Can you place agency debt on stabilized Michigan multifamily?: Yes. Fannie Mae, Freddie Mac, and HUD all quote stabilized Michigan multifamily. We compare agency against bank, life-company, and CMBS options.
What loan sizes do you handle in Michigan?: We typically work on transactions from approximately $2M to $200M+ in Michigan. Smaller deals are often better served by community and regional banks.

Other Markets

Active financing across the country.

Florida Texas North Carolina Colorado

Discuss a Michigan Transaction

Structure capital for your Michigan commercial real estate deal.

Share the asset, the metro, and the closing window. A senior advisor familiar with the Michigan market will reach out within one business day.

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