Ferrara Automotive Service Center

Hollywood
,
FL
10 year term with 25 year amortization
Auto service station with several cars parked across the parking lot.
Amount: $
1320000
Interest Rate: 
4.14
%

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.

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