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216 Unit Townhome Apartments 3

216 Unit Townhome Apartments

$11,500,000 Suburban Townhome Apartments

Location: Suburban Detroit
Loan Amount: $11,500,000
Term: 15 Years 
Amortization: 25 Years
Execution: Life Company

District Capital recently closed a 216-unit townhome apartment complex in Suburban Detroit with a correspondent Life Company. The 15-year fixed rate at 3.125% was a forward rate lock and the 10-year TSY was higher than coupon on the day of closing!