District Capital Secures $25.1M Loan For 622-Bed Student Housing In Dearborn, MI

The asset involved in the transaction is a 622-bed student housing property located at 780 Town Center Drive in Dearborn, MI. The property is positioned near the University of Michigan – Dearborn and secured a loan amount of $25,100,000.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $25,100,000
• Loan Terms: five-year term, fixed interest rate, one year of interest-only payments, and a 30-year amortization
• Broker: Mike Lemon - District Capital

District Capital arranged the nonrecourse loan which features a fixed rate and includes one year of interest-only payments structured within a 30-year amortization schedule. Mike Lemon represents the broker in this transaction.