Genesee Mixed Use

Genessee
,
MI
2-year I/O starting at 4.75%
Amount: $
146277
Interest Rate: 
4.75
%

StackSource recently arranged financing for a 50% occupied, 10,000sf, 16-unit mixed use property in Genesee, MI.  The property features 13 residential units and 3 commercial units.  The sponsor is a local SE Michigan based real estate investor and plans to acquire the property and add value by leasing up the vacant units.  StackSource Capital Advisor Chris Peters was able to secure a 2-year interest only mortgage priced at Prime + 1.50% from a local credit union.

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