Summary: The Madison
Group (TMG), a leading national lending source of multifamily financing nationwide,
arranged the $1,500,000 refinance for a 20 unit apartment building in Austin
The borrower’s goals were to get a low rate, cash out, and have the option for
partial releases on a three person TIC ownership structure.
TMG was able to work with a national credit union to satisfy
all of their needs. The property
consists of a mix of townhome style units with three separate owners. They were able to get their cash out and have
the ability to pay all or part of the units off in the future if any of the
partners decide to sell their interest.
There is no prepayment penalty as well as a 30 year amortization to
maximize their cash flow.
Property: 20 unit
Loan Amount: $1,500,000
Interest Rate: 4.15%
Term: 10 Years
LTV: 73 %