Pardo Street Apartments

Garden City
,
MI
3.9% Fixed, 10/25
Amount: $
218500
Interest Rate: 
3.9
%

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.

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