Cincinnati Multifamily Refinance

10-yr term, 30-yr amortization cash out refinance
Two multifamily buildings composed of brick frame that have the numbers 5729 and 5733 on the side of the building surrounded by dirt and grass.
Amount: $
Interest Rate: 

StackSource recently closed a cash-out refinance for this 22-unit multifamily property in Cincinnati, OH. The Sponsor purchased the property in 2017 and invested significant capital to completely renovate and stabilize the property. This financing recapitalized high interest rate renovation loans, as well as provided prepayment flexibility to capture additional value in the future since market values continue to appreciate. The lender provided a 10-year term, 30-year amortization loan fixed at 4.50% with no prepayment penalty.

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