Cincinnati Multifamily Refinance
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.