Highlands 13 Acquisition

Kennewick
,
WA
75% LTC, Value-Add, Full-Term I/O
Kennewick Washington Property
Amount: $
2200000
Interest Rate: 
%

StackSource recently arranged financing for a 13-unit acquisition in Kennewick, WA for an out-of-state sponsor. The business plan was primarily operational value-add to improve management and rent with minimal capex injection. Loan terms were 75% LTC, at 7.5% fixed for 1.5 years with 2-6 month extension options, and full term I/O. Capital Advisor Jaideep Chadha secured the non-recourse loan with no prepayment penalty, and was able to close on-time within 45 days.

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