Mno-Bmadsen Takes Ownership Stake in City Center Lofts in Benton Harbor￼
Investment Represents Commitment to Honoring Ancestral Land and Supporting Communities
Mno-Bmadsen, the independent non-gaming investment entity of the Pokagon Band of Potawatomi Indians, is proud to announce it has acquired a 50 percent stake in City Center Lofts from Cressy Commercial Real Estate. Financial details about the transaction were not disclosed.
Originally constructed in the 1880s, City Center Lofts sits on the corner of Main Street and Pipestone Street in the heart of downtown Benton Harbor, MI. The two-story, 20,000 square foot mixed-use building is comprised of 16 apartments, all of which are occupied, and two commercial spaces, for which one is open.
“We are proud to once again partner with Cressy Commercial Real Estate to revitalize local assets,” said Mno-Bmadsen Chief Executive Officer Julio Martinez. “City Center Lofts is an important cornerstone to the Benton Harbor community as well as being on historically significant land for the Pokagon Band of Potawatomi Indians.”
Terms of the transaction include Cressy Commercial Real Estate will continue to manage the property, which it rehabilitated in partnership with the Michigan Economic Development Corp., the City Council of Benton Harbor, and others. The project was completed in July 2021.
The stake in City Center Lofts represents another step in Mno-Bmadsen diversifying its real estate portfolio known as Redtail Properties, while also investing in local communities and land that has historical importance to the Pokagon Band of Potawatomi Indians.
Like City Center Lofts, in September 2021, Mno-Bmadsen was an investment partner with Cressy Commercial Real Estate on the grand opening of Hotel Elkhart, Tapestry Collection by Hilton, which also rests on ancestral land to the Pokagon Band. Originally constructed in 1923, the new Hotel Elkhart now boasts 93 full-service boutique guest rooms, Relish Café & Confections, serving freshly made pastries and restaurant food items, The Corner Bar, breakout meeting space, along with a fully renovated ninth floor Aria Ballroom offering outstanding views from an expansive rooftop bar known as The High Note.
Mno-Bmadsen’s and Cressy Commercial Real Estate’s working relationship continues to deepen. Mno-Bmadsen’s portfolio company, Seven Generations Architecture + Engineering also recently submitted a proposal to the city of Dowagiac in partnership with Cressy Commercial Real Estate to convert an abandoned school into a new apartment building. This would be the third collaboration between the two companies. Mno-Bmadsen’s headquarters are in Dowagiac, which also sits on important ancestral land for the Pokagon Band of Potawatomi Indians.
The Pokagon Band of Potawatomi is a federally recognized Indian tribe located in Southwest Michigan and Northwest Indiana. The band is the only federally recognized tribe in the Hoosier State and proudly has 5,100 citizens that has an elected 11-member council. The Pokagon Band owns more than 6,000 acres of land in Michigan and Indiana.
Mno-Bmadsen manages a diverse portfolio of investments on behalf of the Pokagon Band of Potawatomi Indians. In addition to real estate, Mno-Bmadsen invests in professional services, construction services and manufacturing services. Founded in 2012, the name Mno-Bmadsen is derived from the Pokagon phrase “the good path.” The independent investment arm has grown its portfolio to include more than 300 employees within the family of companies, more than $140 million in combined annual revenues, and a growing federal contracting operation.
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. To learn more, please visit www.Mno-Bmadsen.com.