Multifamily Nonrecourse Loan
Summary: The Madison Group (TMG), a leading national
lending source of Multifamily Financing, arranged the $3,000,000 refinance of a
44-unit townhouse style multi-family property in northern Utah. The borrower's goals were to get a cash out
nonrecourse loan with a long-fixed term.
challenge on securing a loan is the rural location of the property and the property
has multiple individual titles instead of only one encompassing the entire project.
The team at
TMG worked diligently with the lender to determine the best loan structure for
the borrowers. The lender got comfortable with the rural area through the
knowledge of new businesses
that are thriving there. The title challenge of the 44 legal descriptions was
worked through and the loan was able to close in a timely fashion with an aggressive
rate and term.
Term: 15 Years
Amortization: 25 Years