48 Door TN Portfolio Refinance
StackSource recently closed a cash-out refinance loan for a Memphis-based investor that had acquired a large portfolio of single family rental homes in the greater Memphis area. The sponsor was seeking a refinance to pull out equity, consolidate loans and lock into a longer and lower fixed rate.
StackSource Capital Advisor Chris Peters arranged financing with a private lender that was able to offer cash-out up to 70% LTV and a 30-year fixed rate at 4.25%. The investor's first portfolio loan contained properties in Tennessee and closed in December 2021. This second portfolio loan contained properties across the Mississippi river in Arkansas.