Michigan North Street Apartments

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

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.

Deal Team

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