Sweetwater Capital Secures Superior Rate & Terms for Downtown Multifamily Property
Sweetwater Capital’s recent loan closing secured $13.5 million dollars on a 30 year amortization, 10 year term at 4.33% interest rate.
In addition to a superior interest rate, the loan funded at 75% LTV and includes three years interest only.
“Everyone is thrilled with the rate and terms achieved on this loan. Sweetwater Capital is always pushing to get the best financing for our clients and this loan is particularly special to me,” commented Mitchell Stogner, Sweetwater Capital Vice President. “It’s going to be fun to beat this loan’s rate and terms moving forward. I’m certainly up for the challenge.”
“Columbia is gaining additional traction with investors and developers. The city’s revitalized downtown, numerous colleges and universities and consistent employment growth are appealing to investors and lenders alike,” noted Jackson Howard, Sweetwater Capital President.
This converted federal bank includes 113 units and each loft apartment has hints of historical charm throughout, including several units with original bank vaults. Located within the active downtown scene, resident amenities include a pool with sundeck, original hardwood, concrete and terrazzo flooring, Juliette balconies, custom cabinetry and concierge services.