District Capital Arranges $10.6M Acquisition Loan for Michigan Industrial Property

MICHIGAN — District Capital has arranged a $10.6 million loan for the acquisition of a 205,000-square-foot industrial property in Michigan. Dave Dismondy of District Capital arranged the nonrecourse loan, which features a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio. A life insurance company provided the loan. The borrower was undisclosed.