Spectra Lending Expands to the Great Lakes State

Michigan’s commercial real estate market is experiencing a dynamic period of growth, driven by key sectors like manufacturing, logistics, and multifamily housing. At Spectra Lending, we’re excited to announce that we have expanded our footprint into the Great Lakes State, offering specialized lending solutions tailored to the unique opportunities and challenges of this vibrant market. We are eager to partner with commercial real estate brokers and provide direct financing solutions to borrowers across the state at a speed that is unmatched in the industry.

Michigan’s economy is on the rise, and has shown tremendous resilience in recent years. Construction is the strongest performing sector in the state, reaching a 20-year high by employing over 200,000 people¹. Significant investments in manufacturing are driving demand for industrial spaces. The overall vacancy rate for Metro Detroit’s industrial market decreased to 4.2% in 2024, well below the national average of 6.8% and a reflection of the market’s strength². Major corporations are taking note, with Amazon recently opening up a 1 million-square-foot fulfillment center in Delta Township³ that will employ more than 1,200 full and part-time employees.

In addition, the strong demand for multifamily housing in urban centers like Detroit and Grand Rapids provides opportunistic brokers the chance to thrive in a rapidly evolving market. Occupancy rates for multifamily properties in West Michigan remain robust at a steady 93% and there are over 3,500 units currently under construction. Long-term demand drivers for multifamily housing remain promising, and investors are optimistic that a more favorable lending environment could emerge in the near future⁴.

Michigan continues to be a leader for innovation in the automotive industry, with more than $27 billion allocated to electric vehicle (EV) manufacturing and battery projects⁵. This kind of investment will shape Michigan’s future for decades to come. The Van Buren Township in the southeast region of Michigan is home to a $1.6 billion battery manufacturing campus that is expected to create over 2,000 jobs and have the capacity to produce 200,000 EV battery packs per year once it is fully operational.

There are significant construction initiatives underway, including the Gordie Howe International Bridge that will connect Detroit to Windsor, Ontario. Despite delays due to the pandemic, the bridge is expected to open by fall 2025 and will serve as a trade and transportation hub. For commercial real estate brokers, this infrastructure milestone represents a golden opportunity for substantial client growth. The completion of the bridge will trigger increased demand for logistics facilities, warehousing, distribution centers, and retail spaces along new transportation corridors. Savvy brokers who position themselves in these emerging markets can secure prime deals for their clients looking to capitalize on the economic revitalization this gateway will bring. These complex, fast-moving transactions often require flexible financing that traditional lenders shy away from. That is exactly where Spectra Lending’s quick approval process and special situations expertise creates a competitive advantage for brokers serving clients eager to establish footholds in Michigan’s expanding commercial landscape.

At Spectra Lending, we excel in providing fast and flexible solutions for special situations commercial real estate projects. Unlike lenders reliant on rigid algorithms, we understand the unique story behind each project. Our common-sense underwriting allows us to fund deals that others might reject, ensuring that brokers can close transactions quickly and efficiently.

Why should Michigan CRE brokers partner with Spectra? Our rapid capital deployment, diverse loan offerings, and strategic partnership approach make us an ideal ally. Whether you’re dealing with a stalled project, seeking bridge financing for a time sensitive opportunity, or require creative capital solutions, Spectra Lending is here to help.

Spectra Lending is becoming a trusted partner to serve deals where traditional lenders struggle. Our solutions are focused on:

Spectra Lending is proud to specialize in deals that fit the following criteria:

Contact us today to explore how we can support your clients’ commercial real estate ventures in Michigan. Visit our website at spectralending.com to learn more about how we can partner with you to navigate complex deals with unprecedented speed.