First Michigan-Based Privately Operated Development Finance Organization Launches

Cinnaire is pleased to announce that it has launched a new real estate financing tool, Develop Michigan (DMI), for Michigan-based projects.  Develop Michigan will play a dynamic role in financing commercial real estate projects, thus augmenting current efforts to transform and rehabilitate Michigan communities.

Develop Michigan is an innovative nonprofit development finance organization formed through a partnership between the Michigan Strategic Fund, Michigan Economic Development Corporation, Cinnaire and the Development Finance Group. The core financing activities of DMI will include mezzanine capital (subordinated debt with preferred equity features), senior debt and gap financing in conjunction with foundation, local, state or federal below-market financing sources.

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