411,758 sf Power Center
Location: Traverse City, MI
Loan Amount: $32,100,000
Amortization: Interest Only
Term: 18-Month Term with Extension Options
Other: 9-Month Minimum Interest Future Funding Facility for Tenant Buildout
Execution: Debt Fund
Only 17 Days from Application Execution to Funding
This acquisition financing was completed in record time.
It took only 17 days from the day the application was executed to the funding date. The deal was a prime example of flawless execution on all sides. The borrower, lender and District Capital understood the date that was required to be hit, and all worked together to ensure the deal closed on time per the purchase and sale agreement.