Regions Midwest | Detroit
GM to Buy Properties in Detroit, Michigan, Issues Mortgage-Backed Line to Subsidiary
May 9, 2008

An 10-Q filing has confirmed GM's buy of three properties, including its Detroit, Michigan-based corporate headquarters, for a total of $826 million. The headquarters cost $626 million. The other $200 million went for Pontiac and Michigan-based administrative offices, according to the filing. In addition, the SEC filing reported that GMAC Financial Services was issuing a $3.5 billion senior secured credit facility to its wholly owned subsidiary Residential Capital L.L.C. or ResCap.

 
Recent Detroit Headlines
Detroit Casino Completes 25,000-SF Expansion
Aug. 29, 2008
Greektown Casino in Detroit has taken another step in its $500 million permanent development endeavor with the completion of a 25,000-square-foot addition to its gaming space.
$68M Mixed-Use Redevelopment Project in Dearborn Gets Boost from State
Aug. 22, 2008
Redico Holdings L.L.C., the Southfield, Mich.-based real estate company behind the redevelopment of a former Montgomery Ward department store in East Dearborn, Mich., has gotten a monetary helping hand from the Michigan Economic Development Corp.
Chrysler to Expand Detroit Plant with 285,000-SF Addition
Aug. 15, 2008
Chrysler L.L.C. has announced that it will develop a 285,000-square-foot building at its Jefferson North Assembly Plant in Detroit as part of its planned $1.8 billion investment in new vehicle programs.
Pfizer's Plymouth Township Building Selected for New Life Science Hub
Aug. 01, 2008
The 57,500-square-foot building in Plymouth Township that was once a Pfizer laboratory is being eyed by a group of organizations--including the Michigan Economic Development Corp., Ann Arbor SPARK, the Greater Wayne Economic Development Corp. and a private foundation--for the site of the new Life Science and Innovation Center.