Westpark Center Acquisition
StackSource arranged $5.39mm acquisition financing for a General Services Administration-leased (GSA) office building. Sponsor acquired the office property located in Columbia, SC, with 95%+ occupancy and plans to add value by executing a lease-renewal strategy supported by both GSA and national credit tenants.
StackSource Capital Advisor Andrew Bouton secured non-recourse financing through a regional bank that provided a 70% loan to cost, termed out for 5 years with a 25-year amortization period. The rate for the full term is at 3.75% fixed.