Harvard Pointe Apartments
StackSource recently arranged financing for a 100% occupied, 12 unit multifamily apartment building in Chicago's Englewood neighborhood. The sponsor acquired the property in 2013 and after renovating units, they were able to refinance an existing high rate construction mortgage and cover closing costs and fees. Capital Advisor Chris Peters arranged financing with a local bank lender that provided a 10-year term loan with the first 5-years fixed rate at 4.75% and a 25-year amortization schedule. The loan was part of a 2 property refinance with the same borrower and lender.