Finance V Michigan

Axilla Capital closes $10 million loan for iconic apartment towers in Detroit

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Axilla Capital has arranged a $10 million loan to refinance the Parkstone & Parkhurst Apartments in Detroit.

Axilla Capital has arranged a $10 million loan to refinance the Parkstone & Parkhurst Apartments in Detroit.

Joel Mazur, principal of Axilla Capital, originated the transaction and secured the financing.

The Parkhurst sits kitty-corner to the Parkstone, the tallest building in Detroit's West Village district. Together, the two buildings feature 212 units that are 95-percent occupied.