Allentown Multifamily

Allentown
,
PA
3.5% fixed, 30 year amortization
Three story brick apartment building with a brick arch driveway, and melting snow in front.
Amount: $
1334000
Interest Rate: 
3.5
%

StackSource arranged the cash-out refinancing for a 22-unit multifamily property originally developed in 1920 in Allentown, Pennsylvania. The asset consists of 3 brick buildings on one lot, and was most recently renovated in 2019. The sponsor, a family office local to Allentown, has owned the asset for over 20 years.

StackSource Capital Advisors Omar Sobhy and Zach Wagner negotiated a cash-out recapitalization with a credit union at a 3.5 fixed rate, seven year term with optional seven year extension, and 30 year amortization at 75% Loan to Value.

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