Bridge Street Apartments

Warren County
,
OH
3.29% fixed portfolio loan
Amount: $
500000
Interest Rate: 
3.29
%

StackSource recently arranged financing on behalf of a Southwest Ohio based real estate investor that had acquired a portfolio of residential properties in Franklin, OH (between Cincinnati and Dayton) and made several improvements and stabilized all each of the properties.  The investor had acquired the portfolio with a bridge loan from a FL based investor that had purchased the properties out of foreclosure and opted to sell rather than rehab and stabilize.  The new loan allows the investor to remove one property from the collateral and significantly decrease their debt service.  StackSource Capital Advisor Chris Peters was able to secure a 5-year fixed rate mortgage at 3.29% with a 20-year amortization from a regional bank lender that charged a flat $250 lender fee.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
Habitat for Humanity of Greater Newark