The Madison Group (TMG), a leading source of multifamily financing nationwide, arranged the $3,650,000 refinance of a 22 unit apartment building in San Francisco CA. The borrower’s goals were to secure a low rate and get cash out of the property for another investment. TMG secured the financing with a 10 year term fixed for 5 years at 3.925% with a 30 year amortization and no prepayment penalty.
The building was built in 1908, but remodeled in 2008-2010.It is a full leased multifamily property with one commercial tenant in the Mission District of San Francisco. The borrower is an experienced real estate investor. He had a need for a large amount of cash out of this property to invest in another project but needed flexibility on the prepayment penalty.
TMG was able to close the loan quickly and efficiently, minimize the third party reports, and give the borrower all of the terms that he had desired on the loan. The new loan provided a substantial amount of cash out, even with a tight debt service coverage.
The borrower commented, “Angela Kesselman is a dream to work with and the deals she puts forth are the best - two in a row!”
“This repeat client came to us with a specific need and we were able to get negotiate all of the terms that were part of his financial plan. This was another successful closing for a great client” said Angela Kesselman, TMG’s Associate Director of Finance.
The financing was arranged by Angela Kesselman at The Madison Group.
The Madison Group (www.madisongroupfunding.com) is a commercial loan broker and consultant specializing in financing for investor properties nationwide. TMG provides flexible and reliable capital for real estate acquisitions, refinances, and re-capitalizations for a variety of property types including: multifamily, mobile home parks, credit tenant NNN net lease, office, retail, industrial, self-storage and other commercial properties in the United States. Established in 2001, The Madison Group’s intention is to provide highly competitive loan products through its superior capital market expertise and quality sources of capital. TMG works efficiently and effectively to get the transaction closed and funded.
The Madison Group can be reached at 435-785-8350 or by emailing Angela at angela@madisongroupfunding.com.