Berkadia Secures a Fannie Mae Pre-Stabilized Loan for New Multifamily Property in Grand Rapids, Michigan
Grand Rapids, Michigan – April 1, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the financing of Meadowood Townhomes, a 96-unit, townhome-style multifamily property in Grand Rapids, Michigan. Managing Director Aaron Moll and Associate Director’s Dominick Ens and Kevin Nimmo of Berkadia Detroit and Chicago secured the loan through Fannie Mae. The borrower is the developer of the property, Grand Rapids-based Wheeler Development Group (WDG). WDG owns and operates the asset under its affiliated property management company PURE Real Estate Management. The deal closed on March 6.
The 10-year loan featured a 5.32 % interest rate with 7-years of interest only followed by a 30-year amortization.
“This was our first transaction with WDG,” said Moll. “They have an incredible brand name and reputation in the Grand Rapids market, and working with them exceeded even that reputation. This Fannie Mae loan allowed the borrower to capture a strong takeout loan while the asset was still in lease-up under the Fannie Mae Pre-Stabilized Loan program. I’m really happy to have some cross-office collaboration as well with colleagues Dominick Ens and Kevin Nimmo. This was a team approach from start to finish.”
Located at 3300 E Beltline, the property affords convenient access to Downtown Grand Rapids and Gerald R. Ford International Airport. Multiple national and regional retailers, including Meijer, are nearby, with employment drivers from Corwell Health, Cornerstone University, and the Fredrick Meijer Gardens and Sculpture Park. Meadowood Townhomes was built in 2025 and features 96 units.