South Temple Warehouse / Land
StackSource recently arranged financing for the value-add acquisition of a light industrial property located in Salt Lake City, Utah. This deal presented with several nuances and short timelines. Initially, the Sponsor had reached out to a local hard money lender which gave a soft commitment, but couldn't confidently assure they had funds available to close. Wanting certainty of execution, the Sponsor came to StackSource to secure additional options with lenders that were able to close on time. Director Paul Winterowd was able to provide several quotes and a variety of loan structures. Ultimately, the sponsor chose the option with the lowest interest rate, and it provided a 2 year term that gives the Sponsor plenty of runway to execute their business plan. Paul was able to close ahead of schedule - 19 days from loan quote to funding. Quote from the sponsor - "I'm going to run all my deals through Paul at StackSource".