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Justin Hollis Of District Capital Secures $10M Refinance Loan For Retail Center
FINANCED
$10,000,000
Michigan
See Similar DealsRetail
Financed 04/18/2024
FINANCED
Justin Hollis Of District Capital Secures $10M Refinance Loan For Retail Center
1488 North Rochester Road
See Similar DealsRetail
Financed 04/18/2024
Summary
MICHIGAN
Asset Type:Retail
Transaction Type:Loan
A $10 million loan was secured for refinancing a 62,000-square-foot retail center located at 1488 North Rochester Road in Rochester Hills, Michigan within the Detroit metro area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,000,000
- Market: Rochester Hills, Michigan
- Address: 1488 North Rochester Road
District Capital, led by Justin Hollis, was the broker who facilitated the $10 million loan for the refinancing of the retail center in Oakland County. The loan was secured through a life insurance lender with a locked interest rate at the time of application.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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