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Berkadia has arranged financing for Meadowood Townhomes, a recently built, townhome-style multifamily community in Grand Rapids, Michigan. The property comprises 96 residential units and adds new rental housing supply to the local market.
The financing was secured by a Berkadia team that included Managing Director Aaron Moll and Associate Directors Dominick Ens and Kevin Nimmo. Professionals from Berkadia’s Detroit and Chicago offices worked together to complete the assignment, sourcing the loan through Fannie Mae on behalf of the borrower.
The borrower is Wheeler Development Group, a Grand Rapids-based developer that delivered the Meadowood Townhomes community. Wheeler Development Group also owns the asset and oversees its performance through its affiliated management platform, PURE Real Estate Management, which handles day-to-day property operations.
The Fannie Mae loan carries a 10-year term and an interest rate of 5.32%. The structure includes seven years of interest-only payments, followed by a 30-year amortization schedule. While the loan amount was not disclosed, the fixed-rate, long-term, agency execution underscores ongoing lender interest in stabilized, newly built multifamily communities.
Meadowood Townhomes is located at 3300 E Beltline, providing residents with convenient connectivity to several key destinations in the Grand Rapids area. The community offers access to Downtown Grand Rapids as well as Gerald R. Ford International Airport, positioning the property near major employment, transportation, and retail nodes.
The surrounding area features a mix of national and regional retailers, including Meijer, supporting everyday needs for residents. Nearby employment drivers include Corewell Health, Cornerstone University, and the Frederik Meijer Gardens and Sculpture Park, which together contribute to a diversified demand base in the immediate vicinity.
Delivered in 2025, Meadowood Townhomes reflects the continued development of rental housing options in Grand Rapids. The 96-unit community adds modern townhome-style inventory to the market, aligned with broader multifamily demand supported by healthcare, education, and cultural institutions in the region.
The announcement follows Berkadia’s broader activity in the multifamily debt markets, with this transaction highlighting the ongoing role of agency lenders such as Fannie Mae in financing newer, institutionally managed rental properties. Wheeler Development Group, through PURE Real Estate Management, retains both ownership and operational control of Meadowood Townhomes under the new financing structure.
Separately, the multifamily sector in the broader Midwest will be in focus at the Connect Midwest Multifamily Trends Conference on Tuesday afternoon, June 2, 2026, where industry leaders, including JDL Founder Jim Leitchinger, are scheduled to share insights on regional rental housing dynamics.
The post Berkadia Secures Fannie Mae Financing for Meadowood Townhomes in Grand Rapids appeared first on CRE Market Beat.
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