Acumen Group was introduced to a Commercial Office owner in Flint Michigan that was attempting to refinance it's properties in order to fund long-standing refurbishments of some of the properties and to finance the purchase of additional properties. Due to the local economy in Flint, the property owner was not able to secure financing for several years. To add to the difficulty of the property owner, Flint has been in the middle of a water crisis which created a marketability issue for the properties. Acumen Group realized that the location was definitely difficult for most lenders to over-look, but realized that the project owner had properties that had great value and tenant leases that were strong. Acumen Group was able to create a portfolio loan based on utilizing the strong covenants of the leases and was able to secure a $2.5M loan in order to resolve the long-standing funding issue the property owner was facing. Acumen Group was also able to secure Institutional Funding for the client and is in the process of completing the funding to a permanent mortgage.
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