181,000 SF Neighborhood Retail Center
Location: Redford, MI
Loan Amount: $4,750,000
Term: 10 Years
Amortization: 20 Years
Execution: Life Company
Debt Procured During Capital Improvement & Re-tenanting
District Capital was able to procure permanent fixed-rate debt on this asset while the property was going through a capital improvement makeover and re-tenanting of the space. The deal closed at 79% occupancy with cash flows from both traditional retail leases and non-traditional license agreements from month-to-month tenants.