StackSource recently arranged a refinancing of $356,000 for a 10-unit building in Cincinnati, OH. The sponsors are residents of California and this is their first building in the Midwest. Many lenders in Ohio will not work with out-of-state sponsors.
StackSource Capital Advisor Freddy Johnson secured financing at 5.32% with a 5 year term and a 25 year amortization. It was important to the client that he was not obligated to use the lending institution for any operating or deposit accounts. Freddy is looking forward to growing his relationship with the clients as they move on to larger deals in the Cincinnati area.