StackSource Capital Advisor Huber Bongolan successfully placed permanent financing for the purchase of a 13-unit multifamily property located in Bridgeville, PA (a suburb of Pittsburgh). The Sponsor had a light value-add strategy but the strong in-place cash flow supported underwriting for a permanent loan.The lender also appreciated the Sponsor's local experience given that they own and operate 24 additional units in the area.

StackSource was able to source funds from a regional credit union relationship that was comfortable with the secondary market location. The 75% LTV loan featured a 4.25% fixed rate for a 5-year term, amortized over 25 years.