Deal Type: Cash-Out Refinance
Loan Amount: $757,000
This cash-out refinance was for a 12-unit apartment property located in Tallmadge, OH, within the Cleveland, OH MSA. The loan was used to pay off a previous bridge loan and pay back taxes, with Stronghill being able to provide a better rate and term overall. This was the borrower’s first real-estate project as a full-time investor and they completely renovated the property in 2018.