Distributed Multiple-Input and Multiple-Output (D-MIMO) is envisioned to play a significant role in future wireless communication systems as an effective means to improve coverage and capacity. In this paper, we have studied the impact of a practical two-level data routing scheme on radio performance in a downlink D-MIMO scenario with segmented fronthaul. At the first level, a Distributed Unit (DU) is connected to the Aggregating Radio Units (ARUs) that behave as cluster heads for the selected serving RU groups. At the second level, the selected ARUs connect with the additional serving RUs. At each route discovery level, RUs and/or ARUs share information with each other. The aim of the proposed framework is to efficiently select serving RUs and ARUs so that the practical data routing impact for each User Equipment (UE) connection is minimal. The resulting post-routing Signal-to-Interference plus Noise Ratio (SINR) among all UEs is analyzed after the routing constraints have been applied. The results show that limited fronthaul segment capacity causes connection failures with the serving RUs of individual UEs, especially when long routing path lengths are required. Depending on whether the failures occur at the first or the second routing level, a UE may be dropped or its SINR may be reduced. To minimize the DU-ARU connection failures, the segment capacity of the segments closest to the DU is set as double as the remaining segments. When the number of active co-scheduled UEs is kept low enough, practical segment capacities suffice to achieve a zero UE dropping rate. Besides, the proper choice of maximum path length setting should take into account segment capacity and its utilization due to the relation between the two.