7033 S Indiana. 26 Unit

Chicago
,
IL
75% LTV, 4.04% Rate
Apartments in Chicago
Amount: $
1355000
Interest Rate: 
%

StackSource recently arranged financing for an Alabama-based investor who was looking to invest in the Midwest. He used 1031 capital from the sale of a multifamily asset in Seattle where cap rates are generally lower than the Midwest. StackSource advisor, Freddy Johnson, introduced the client to a well-known successful mid-market multifamily investment sales brokerage in Chicago. They found a stabilized multifamily asset in the Chicago neighborhood of Chatham that worked for the borrowers equity contribution, as well as a cash-on-cash return. Freddy secured terms at 75% LTV and 4.04% in April which was 50 basis points lower than all other lenders in the Chicago area. Freddy still keeps in touch with the borrower after the deal closed in June and is looking forward to growing their relationship moving forward.

Charitable Cause supported by 1% of StackSource's revenue on this transaction: