Real Estate Round Up 12/5/17
$14.5M Deal is Largest Acquisition for West Michigan Non-profit Housing Developer
Shandra Martinez Mlive.com
"The purchase, which includes 213 units of housing, will preserve affordable rental rates and provide new homeownership opportunities for low and moderate income families and individuals. "
Grand Rapids Real Estate Firm Moves to Settle RICO Case
Nick Manes MiBiz.com
"RICO case came after allegations that Eenhoorn engaged in a Deed in Lieu of Foreclosure scheme ....The deed in lieu of foreclosure process allowed the company to strip away the Low Income Housing Tax Credits (LIHTC) associated with the properties, freeing the owners to charge higher market-rate rents for the apartments."
Neighborhood Tiki Bar Opens Doors
Rachel Watson Grbj.com
"The restaurant will serve Hawaiian and Polynesian fusion-style food with Indonesian influences. "