Hurst TX Multifamily Redevelopment
StackSource arranged $2,450,000 acquisition and construction financing of a 32-unit multifamily property in Hurst, Texas. The seasoned sponsor group intends to renovate individual units with interior upgrades and capture rent growth upon lease renewal.
StackSource Capital Advisor Chris Peters arranged the 75% loan to purchase price, along with the estimated capex budget and closing costs, with a bridge to Agency lender. The non-recourse loan has a 2 year interest-only period and a SOFR + 3.85% rate.