LOUISVILLE, KY – Capstone Capital announces the recent cash-out refinancing of Manslick Apartments in Louisville, KY on March 16, 2016. This 36-unit apartment community was built in 1951 and was purchased by the owners as a value add opportunity. These owners have a deep background in commercial real estate throughout Kentucky.
The existing debt on the asset in the amount of $636,000. After shopping the asset with several of Capstone Capital’s trusted lenders, the borrower chose the Freddie Mac Small Balance Loan Program. The Freddie Mac Small Balance Loan program allotted $1,005,000 in loan dollars which provided them approximately $330,000 in “cash-out” after closing costs. Ashley Helm of Capstone Capital represented the borrower throughout the completion of this financing.
About Capstone Capital: Since 2007, we have closed over 115 commercial loans for over $1 billion in loan volume. With offices in Nashville, Tennessee and Fayetteville, North Carolina, we close loans throughout the Southeast. We put our best resources in competition to secure the best loan for our clients. Then we go the extra mile, because this business is about more than a great mortgage rate. We’re thorough, we’re involved, and we take the pressure off of our clients. Our packages get prompt attention from lenders because they’re detailed and transparent, ensuring a smooth, no-surprises process for all. It’s the reason 80% of our business is repeat customers. Our team prides itself on being involved, thorough and focused on customer service so as to ensure that the process can be as seamless for the borrower as possible. To learn more please visit www.cscap.us.