Merrillville Mixed Use

Lake County
80% LTV, 5/25
Mixed use property consisted of a first floor with commercial units including a florist and a second floor composed of 9 residential units.
Amount: $
Interest Rate: 

StackSource recently arranged financing on behalf of a west coast investment group that acquired a 100% occupied, 14 unit mixed use property located in Merrillville, IN.  The sponsors are based in the Los Angeles area and currently own other investment property in northern Indiana and are looking to grow their portfolio in that region.   The subject property features 9 residential units and 5 commercial units consisting of mom and pop type tenants.  StackSource Capital Advisor Chris Peters was able to secure an 80% LTV, 5-year fixed rate mortgage at 4.25% with a 25-year amortization from an Indiana bank lender.

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