4812 Lee Road Acquisition

75% LTC, Full Term I/O, Quick Closing
Amount: $

StackSource recently arranged financing for a 16-unit acquisition in Cleveland, OH for an out-of-state sponsor. The value-add business plan aimed to improve management and rent with strategic capex improvements. Loan terms were 75% LTC, at 7.38% fixed for two years with two-six month extension options, and full term I/O. Capital Advisor Huber Bongolan secured the non-recourse loan and was able to close on time within 45 days.