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Loan Amount
$612,500
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LTV
69.38%
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Term
12 Months
Transaction Overview
Stormfield funded a $612,500 multifamily value-add loan for a repeat Stormfield borrower acquiring and renovating a five-unit multifamily property in Rochester, New Hampshire. The financing covers the purchase and supports the renovation plan for the building. The 12-month loan is structured at 69.38% of the $882,875 underwritten value. Underwriting weighed the renovation scope and the local Rochester multifamily market, along with the business plan for the property and the borrower’s history with Stormfield. The deal shows how Stormfield works with repeat borrowers and brokers to fund small multifamily value-add projects.