60 N Cole Rd
7.5% Fixed Rate, 12-Month Loan
StackSource recently arranged financing for the purchase of a retail and flex space that hosts multiple tenants, including the Aquarium of Boise. Capital Advisor Jaideep Chadha secured the terms of 75% LTPP at 7.5% fixed rate with no prepayment penalty for a 12-month loan with two six-month extension options and an in-place debt yield of 5.8%. The sponsor plans to hold the property for a year while working with the city to obtain adequate permits to redevelop the property as a multifamily. Jaideep closed this deal in just 29 days from a signed term sheet to closing with a post-close appraisal.