Silver Lake Multifamily

Providence
,
RI
75% LTV, 10/25
Vinyl-sided multifamily building with first and second floor decks.
Amount: $
675000
Interest Rate: 
3.75
%

StackSource successfully sourced and negotiated acquisition financing for Bancroft Street Apartments, a 16 unit multifamily property located in the Silver Lake neighborhood of Providence, RI.  The Boston based investment group had to work through several legacy tenant and title issues before closing on the property.  The Providence based credit union was able to successfully navigate the complicated transaction and provided a 75% LTV, 10-year term loan, with an initial 5-year rate fixed at 3.75% amortized over 25 years.

Deal Team

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