Mno-Bmadsen Acquires Ownership Position in City Center Lofts
May 05, 2022
BENTON HARBOR, MI. – Cressy Commercial Real Estate is pleased to announce that Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, has acquired an ownership position in its project City Center Lofts.
Located on the corner of Main Street and Pipestone Street in downtown Benton Harbor, City Center Lofts is a two-story, 20,000 square foot mixed-use building constructed in the 1880’s. The structure was on the verge of demolition before a partnership formed between the Michigan Economic Development Corporation, the City Council of Benton Harbor, Cornerstone Alliance, and Cressy Commercial Real Estate resulted in a $4 million investment and complete rehabilitation of its structure and purpose. The project was completed in July of 2021 and underwent interior renovations as well as a restoration of the nineteenth century façade. It now features two commercial spaces and sixteen neo-industrial style lofts that range from studio apartments to a two-bedroom with an office.
“Mno-Bmadsen is excited to announce our latest investment in the commercial real estate sector through our Redtail Properties subsidiary,” said Julio Martinez, CEO of Mno-Bmadsen. “Redtail Properties has again partnered with our trusted partners at Cressy Commercial Real Estate to take a 50% equity stake in City Center Lofts. This project incorporates both our investment strategy to expand our real estate holdings in partnership with local communities in the historically significant lands of the Pokagon Band of Potawatomi Indians and to grow our relationship with Cressy Commercial Real Estate.”
“We are thrilled that our continued partnership with Mno-Bmadsen has resulted in the renovation of this critical community asset,” said Chris Fielding, CEO of Cressy Commercial Real Estate. “We believe that it will prove catalytic for the redevelopment of other assets within our local communities.”
All sixteen of the apartments are fully occupied. One commercial space remains for lease. Those interested in leasing this space should contact Noah Davey, Senior Broker and Principal of Cressy Commercial Real Estate, at (574) 271-4060 extension 1030 or ndavey@cressy.com.
About Mno-Bmadsen
Mno-Bmadsen is the non-gaming investment arm of the Pokagon Band of Potawatomi Indians. This independently managed instrumentality was launched in 2012 with the mandate to diversify the Tribe’s business interests, revenue streams and wealth for future generations. Headquartered in Dowagiac, MI, Mno-Bmadsen’s key strategic investment goals are to buy, hold and grow its portfolios, which currently are Services, Manufacturing and Real Estate. For additional information, visit www.mnobmadsen.com.
About Cressy Commercial Real Estate
Cressy Commercial Real Estate is a full-service brokerage, development, construction, and property management company who has been serving Indiana and Michigan for over 70 years. It is the only regional brokerage with a global reach through the NAI Global affiliation.
For additional information, please refer to www.cressy.com or get social with Cressy Commercial Real Estate on Facebook (@CressyCre), LinkedIn (@cressycommercial), or Twitter (@CressyCRE).
