Pardo Street Apartments
StackSource recently closed an acquisition loan for a 100% occupied, 3,750 SF 5-unit multifamily property in Garden City, MI. The property is located 15 miles west of downtown Detroit. The client is a repeat borrower that continues to build a multifamily portfolio in SE Michigan. Capital Advisor Chris Peters secured financing from a credit union lender that provided a 10-year term and 25-year amortization, with the rate fixed at 3.90% for the first 5 years.