Industrial Park Financing
The Madison Group (TMG), a leading national lending source
of Industrial financing arranged the $1,050,000 rate and term refinance for an
Industrial Park located in Arizona. The borrower’s goals were to do a rate and
term refinance to lower his current rate. The borrower also wanted to get out
of his prepayment penalty.
There was a slowing of the loan process due to COVID-19. The
borrower had a complicated Trust which delayed the loan while attorneys worked
through the structure. The team at TMG stayed on top of the lender daily to
insure a timely closing.
Loan Amount: $1,050,000
Interest Rate: 3.50%