Colorado Commons Refinance

Boise
,
ID
Term sheet to closing in under 24 days, cash-out refinance, no appraisal needed, non-recourse
Multifamily building
Amount: $
6400000
Interest Rate: 
6.75
%

StackSource recently arranged $6.4 million loan financing for a new 36-unit multifamily construction in Nampa, a fast-growing suburb of Boise. Capital Advisors Jaideep Chadha and Chris Peters helped the sponsor obtain a non-recourse, interest-only bridge loan to refinance out of their existing construction loan. Term sheet to closing was done in just under 24 days and appraisal was not needed prior to closing. Additionally, borrower was able to get cash out before the property is fully-stabilized.

Charitable Cause supported by 1% of StackSource's revenue on this transaction: