150 West Jefferson

Location: Detroit, MI
Type: Office
Price: $67,500,000

SMC has provided a $67,500,000 ten-year fixed rate mortgage for the refinance of 150 West Jefferson, a 25-story, 489,786 square foot, Class “A” high-rise office building in downtown Detroit, Michigan. The building was completed in 1989 and was acquired by the Sponsor in July of 2016. The Property is 93.7% physically occupied as of October 2017. The Property is a true Class “A” asset with high end amenities such as 24-hour manned security desk, 526 parking spaces (1.07 per 1,000 SF) with additional offsite parking available at nearby COBO Center, two restaurants, a fitness center and an outdoor terrace complete with a putting green, a bocce ball court, and unobstructed views of the Detroit waterfront. 150 W. Jefferson also features 20,000 SF floorplates that can be reconfigured, easily conforming to a variety of tenants’ needs and benefits from exceptional frontage and lake views along Jefferson Avenue, the main thoroughfare between the business district and Detroit’s waterfront.