Portfolio Loan or Individual cash out refinance?

[Marshall Hooper]

I'm hoping to get some advice on which would be better.

There's about 5 different properties worth around 1.5m. For the cash out, the terms would be at 80% of value on a 5/1 ARM, amortized for 30 years.

For the portfolio loan, I'm not sure what the terms are, I am hoping someone could help me with knowledge from their recent PL and what the terms were like. 

Location is TX