StackSource recently arranged a cash-out refinance for a 72-unit multifamily located in Amarillo, Texas. Associate Director Jaideep Chadha arranged the senior debt for the recently renovated, stabilized property at 5.46% rate fixed for 7 years. The deal terms include a 2-year interest only period and a 30-year amortization after the interest only period. The non-recourse loan completed the value-add strategy for the sponsors with the cash-out being used to payoff investors and leave the sponsors with little to no cash in the deal.

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