StackSource arranged permanent financing for a stabilized 5-unit multifamily property on Pine Street in Tacoma, Washington. The sponsorship group is comprised of two long-term Washington residents, including one long-time Microsoft employee. This acquisition was their second in Tacoma, an area benefiting from job and economic growth in the Seattle MSA. Their growing portfolio, now comprised of 9 units in Tacoma, aims to provide long term passive cash flow.
StackSource Capital Advisor Freddy Johnson secured a 5 year fixed rate at 4.35% with a 30 year amortization from a regional bank. The 30 year amortization helps maximize the investors' Cash on Cash Return, where most lenders in the area are quoting at a 25 year amortization (or less) for a loan of this size.