Dave Dismondy with District Capital closed a $14.5 million acquisition loan on an 80,000-square-foot mixed-use property in a walkable downtown Midwest community.
The correspondent life insurance company loan was underwritten to a 1.25x DSCR, has no property performance covenants, no escrows, no reserves and is assumable.
The rate was locked at application for 90 days at no additional cost to the borrower.
