Harmony Apartments

4.25% over CME Term SOFR
Amount: $

StackSource recently arranged financing for the value-add acquisition of a 616-unit multifamily property in Arlington, Texas. The $61M financing in senior debt also includes $2M in CAPEX funding. StackSource was able to keep the lender engaged on the loan for 9 months while the market conditions eroded and the sponsor worked on completing their part of the capital stack.  Despite the timeline and erosion of market conditions with rising interest rates, StackSource Senior Managing Director, Beth Mercante, and Senior Director Zach Wagner were able to maintain the same spread with the lender for a 6 month span and no loan amount reduction.