Akron Rental Portfolio
74% LTV, 4.75% fixed 30-year amortization
StackSource arranged acquisition financing for a 7-property student housing residential portfolio located less than half a mile from the University of Akron in Akron, OH. The sponsor, based in CA, was in a 1031 exchange and was looking to invest into a growing market where he could achieve higher levels of recurring monthly income vs. what could be achieved on the west coast. The portfolio featured three single family homes and four duplexes and the properties will be managed by a local property manager.
StackSource Capital Advisor Chris Peters worked with a private lender to secure a 74% LTV, 30-year term loan fixed at 4.75% for the full 30 years.
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