Cleveland 19-Door Portfolio
StackSource recently arranged financing for a portfolio of 19 single family rental homes in the Cleveland, OH market. The sponsor group is out of state with the partners residing in Florida and California. Ohio has historically been a difficult state for out-of-state investors in terms of securing conventional debt financing. During and after COVID, that dynamic only became more challenging.
StackSource Capital Advisor Freddy Johnson was able to secure a ten year term with a 30-year amortization. Freddy is looking forward to working with the sponsor group as they continue to expand their portfolio in the Midwest with more SFRs and larger multifamily investments.