Detroit’s Berkadia investment-sales team had a far-from-quiet 2025, quietly stacking up 34 multifamily deals across Michigan and Ohio and racking up about $576 million in sales volume along the way. The flurry of activity featured bulk apartment trades and suburban portfolio sales that point to investors warming back up to Midwest rentals.
According to Connect CRE, Berkadia’s Michigan/Ohio group closed $576,195,886 across 34 transactions last year, with core team members identified as Kevin Dillon, Jason Krug, Rick Brace, Corey Krug and EJ Wujek. The outlet reports that the team brings more than 150 years of combined experience and has handled more than $17 billion in deals since 2017. Those numbers helped secure the crew a spot on Connect CRE’s Chicago & Midwest Top Broker Award list for 2026.
In a press release from Berkadia, the firm said its Detroit office closed $1.35 billion in production volume in 2024. Senior Managing Director Kevin Dillon described it as an "outstanding year," and the release notes that Associate Director EJ Wujek rejoined the office late in 2024. The Detroit shop serves as the northern hub for much of the Michigan/Ohio multifamily business.
Big-ticket trades that pushed the total
As detailed by Connect CRE, major highlights from the year included the $83.8 million sale of Waverly on the Lakes and the $50 million sale of The Haven at Grosse Pointe. The round-up also points to a $37 million trade for Harbors at Battle Creek and the roughly $29.1 million sale of the Bainbridge Park complex. Taken together, those larger portfolio and bulk deals made up a sizable slice of the team’s overall volume.
Why capital is circling back to the Midwest
Industry coverage has flagged a few reasons capital is flowing back into the region. Limited new construction, steady rent performance and value-add potential in older suburban assets are all helping the Midwest’s case, according to Multi-Housing News. Supporting that backdrop, data from Yardi Matrix showed rent growth tilting toward several Northeast and Midwest metros at the start of 2025, helping buoy investor appetite. In that environment, suburban portfolios and value-add strategies can look especially appealing compared with higher-priced coastal plays.
For owners and operators in Michigan and Ohio, Berkadia’s recent production run offers a snapshot of how regional specialists are still lining up substantial transactions when pricing and product fit investor expectations. The Michigan/Ohio team’s 2025 performance, along with its Top Broker recognition, underscores that capital is still very much in the hunt for Midwest multifamily deals.
