Ferrara Automotive Service Center
10 year term with 25 year amortization
StackSource arranged financing for Ferrara Automotive Service Center located on Sheridan Street, one block east of N Dixie Highway in Hollywood, FL. The owner had acquired the property and associated businesses, including a car wash and auto service station, in 2019. The owner discontinued gas service in 2020.
StackSource sourced financing from a local Florida based bank lender that provided a 10-year loan term with the first 5-years fixed at 4.142%, a 25 year amortization schedule and a 0.25% lender fee. The loan proceeds were used to (1) pay off two existing private lenders, (2) pay down other debts (3) cover closing costs and fees and (4) pull out excess cash.
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