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Adelaide Pointe developer scrambles to resolve $28M loan default

Summary by crainsgrandrapids.com
A developer is fighting to prevent his lender from seizing control of the $85 million Adelaide Pointe project on Muskegon Lake, claiming Independent Bank is sabotaging his efforts to sell parts of the development and resolve nearly $28 million in defaulted loans. Ryan Leestma, who is the co-owner and developer of... Please login to read all 950 words.
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crainsgrandrapids.comcrainsgrandrapids.com

Adelaide Pointe developer scrambles to resolve $28M loan default

A developer is fighting to prevent his lender from seizing control of the $85 million Adelaide Pointe project on Muskegon Lake, claiming Independent Bank is sabotaging his efforts to sell parts of the development and resolve nearly $28 million in defaulted loans. Ryan Leestma, who is the co-owner and developer of... Please login to read all 950 words.

·Grand Rapids, United States
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crainsgrandrapids.com broke the news in Grand Rapids, United States on Monday, October 13, 2025.
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