Fletcher Ave Apartments

Indianapolis
,
IN
2.95% Fixed, 5/25
Amount: $
484375
Interest Rate: 
2.95
%

StackSource recently arranged financing for an 11-unit apartment building in Indianapolis, IN.  The sponsors acquired the property in 2019 and made several improvements including new cabinetry, appliances, carpet, flooring, interior paint, light fixtures and other cosmetic updates.  StackSource Capital Advisor Chris Peters was able to secure a 5-year fixed rate mortgage at 2.95% with a 25-year amortization from a regional bank lender that charged a flat $1,000 lender fee and no prepayment penalty if the loan is paid down with cash or the property is sold.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
Habitat for Humanity of Greater Newark