Amarillo Multifamily Value-Add
StackSource arranged financing for a value-add multifamily acquisition deal in Amarillo, Texas. The sponsor, an experienced owner and manager of multifamily properties located in Dallas, has a multi-million dollar capital expenditure plan to significantly upgrade the property and raise rents to market.
The StackSource-arranged senior bridge loan was sized to 85% LTC at a fixed rate of 7.5% for two years, interest-only. The loan is non-recourse.