Chicago Rental Portfolio
StackSource recently arranged financing for a New York based investor that acquired four single family rental properties and refinanced one single family rental property, all in Chicago. The sponsor used cash out proceeds from the refinance that was owned free and clear to acquire the four additional properties. Capital Advisor Chris Peters arranged financing with a national private lender that financed 80% of the purchases and 75% of the refinance with 30 year fixed rates. The purchases are fixed at 4.50% for 30 years and the refinance is fixed at 4.75% for 30 years.