The Madison Group (TMG), a leading national lending source
for self-storage financing, arranged a $5,319,900 loan to refinance and cash
out of an existing self-storage facility in Texas. The client reached out to The
Madison Group with a specific financing needs. The client’s goal was to
maximize his cash out at the lowest interest rate. The Madison Group was able
to arrange a recourse loan with a lender that provided a loan based on future
value of the self-storage facility. The client received a large portion of the
loan proceeds the day of closing and has the ability to earn the rest of the committed
loan proceeds through an earn-out provision. Through diligent efforts by all
parties, The Madison Group and lender was able to fulfil the client’s goals.
Location: Texas
Property: 358 enclosed unit self-storage facility with parking
and RV/boat storage options
Loan Amount: $5,319,900
Interest Rate: 5.125%
Term: 3 years of I/O
Prepayment: None
LTV: 65%