Mason Street Apartments

Saginaw
,
MI
Cash-out refinance at 3.75%
Amount: $
307500
Interest Rate: 
3.75
%

StackSource recently arranged financing for a 100% occupied, 14-unit apartment building located in Saginaw, MI.  The property was acquired by a California based real estate investor in 2015 and since then, the investor made several Capex improvements and increased occupancy from 50% to 100%.  The refinance allowed the investor to pay off his current lender and pull out equity.  StackSource Capital Advisor Chris Peters was able to secure a 10-year term fixed at 3.75% for the first 5 years from a local credit union lender.

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