Acquisition and Rehab of 3 Properties
Location: Riverview, Lincoln Park, and Inkster MI
Loan Amount: $15,150,000
Term: 3 Years
Amortization: Interest Only
281-Unit Apartment Portfolio in Southeastern Michigan
District Capital was able to finance the acquisition and rehabilitation of a three-property, 281-unit apartment portfolio with assets located in Riverview, Lincoln Park, and Inkster. The debt structure allowed for 75% of the total cost with a 3-year term, interest only at a sub 2.5% all in interest rate.