Fenton Management Secures $35.2M Freddie Mac Backing for Metro Detroit Housing Asset

A 394-unit multifamily community in the Detroit metropolitan area has landed a $35.2 million refinancing package, highlighting the sustained institutional appetite for residential assets in the Midwest. Berkadia arranged the capital for the property owner, Fenton Management Company, securing a fixed-rate structure designed for long-term stability.

According to Commercial Observer, Berkadia originated the 10-year loan, which is slated for securitization through Freddie Mac. Berkadia’s Wesley Moczul spearheaded the debt placement, working in collaboration with Scott Wadler and Matt Robbins to finalize the transaction for the borrower.

Key Details

• Borrower: Fenton Management Company
• Lender/Originator: Berkadia
• Loan Amount: $35.2 million
• Term & Structure: 10-year, fixed-rate financing backed by Freddie Mac securitization
• Property: Indian Lake Village Apartments
• Unit Count: 394 homes
• Location: Suburban Detroit, Michigan
• Brokers: Wesley Moczul, Scott Wadler, and Matt Robbins of Berkadia

Market Context

The successful execution of this eight-figure refinancing points to an ongoing flight to quality within the commercial real estate debt markets. Despite broader macroeconomic headwinds and fluctuating interest rates throughout 2025 and into 2026, capital remains readily available for well-operating multifamily communities. For Berkadia and Fenton Management, locking in a fixed rate over a 10-year horizon provides a critical hedge against future rate volatility, a strategy increasingly favored by owners looking to preserve cash flow and pull out embedded equity.

Metro Detroit has consistently drawn attention from institutional investors seeking higher relative yields compared to gateway cities like New York or San Francisco. The suburban ring outside of Detroit, in particular, benefits from a localized corporate ecosystem anchored by the automotive sector, healthcare systems, and a growing hub of technology and defense contractors. This diverse employment base drives consistent renter demand for garden-style and mid-rise apartment complexes.

By turning to Freddie Mac's optigo network, Berkadia was able to tap into one of the most competitive debt vehicles available in the multifamily sector. Agency lenders have maintained a dominant market share over the past 24 months, often providing the most aggressive pricing and longest debt windows for stabilized, workforce-housing assets. For CRE professionals watching the capital markets, this deal serves as a bellwether: secondary and tertiary Midwest markets are still commanding premium, long-term debt execution, provided the underlying asset density and historical occupancy metrics meet agency underwriting standards.