Michigan North Street Apartments

Mt. Morris
,
MI
4.25% fixed, 10/25 term, 75% LTV
Amount: $
975000
Interest Rate: 
4.25
%

StackSource recently arranged acquisition financing for a Michigan-based investor that acquired a 32-unit apartment complex located in Mt. Morris, MI, just north of Flint.  The buyer is a repeat StackSource client and continues to build out their portfolio of residential and commercial properties in Michigan.  The property currently sits at 91% occupied.

StackSource Capital Advisor Chris Peters secured financing through a Michigan based credit union that provided a 75% LTV, 10-year loan term fixed for the first 5 years at 4.25%, amortized over 25 years.

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