Downriver Apartment Portfolio

281-Unit Downriver Apartment Portfolio

Location: Suburban Detroit
Loan Amount: $15,150,000
Term: 3 Years 
Amortization: Interest Only
Execution: Balance Sheet

District Capital is pleased to announce closing an acquisition/bridge loan for the downriver 281-unit apartment portfolio. The scattered site portfolio was 100% vacant at the time of acquisition. District Capital arranged for 75%LTC to provide rehabilitation proceeds to renovate and tenant the apartment units completely.