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Student Housing Financing

Recent Closed Loan: Student housing in Utah

Tags: student housing loans, financing for student housing properties
Wednesday, Jan 29, 2020
by Brandi L

Summary:  The Madison Group (TMG), arranged the financing for a $861,000 rate and term refinance for a student housing property in Utah. The borrower’s goals were to lower their interest rate with a 10-year term and close as expeditiously as possible.

TMG worked closely with the client and the lender to get the loan closed with a great rate and term. The underwriting occurred during the holidays, but TMG managed to close the loan in the month of January - meeting the borrower’s goals.

Location:  Utah

Property:   Student Housing Apartments  

Loan Amount: $ 861,000

Interest Rate: 4.125 %

Term:   10 Years

Amortization:  25 Years

Prepayment:   No prepayment penalty

LTV:   36%

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Mobile Home Park Financing

TMG arranged the $1.56M loan for the purchase of a low occupancy Mobile Home Park

Tags: Mobile Home Park Financing, MHP loans, Bridge loans
Thursday, Jan 23, 2020
by Angela K

Summary:  The Madison Group (TMG), a leading national lending source of Mobile Home Park financing nationwide, arranged the $1.564,000 loan for the purchase of a low occupancy park in Michigan.   The borrowers were looking for maximum financing on the purchase transaction. 

The property had a high number of vacant pads in the park, exceeding 50%.  The borrowers were able to purchase the property at a good price from a seller that lacked the finances to add additional homes.  TMG was able to secure a long-term loan with a 20 year term, 20 year amortization, at 75% of the purchase price.  TMG worked with a lender to become comfortable with the buying group and their ability to fill up the park.  The loan was structured with one year of interest only payments to help with the cash flow during lease. 

Location:  Michigan

Property:  203 pad mobile home park

Loan Amount: $ 1,564,000

Interest Rate:  5.62% Interest Only for the first 12 months

Term:  20  Years

Amortization:  20 Years

Prepayment:   3/2/1% declining

LTV:  75 %

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Car Wash Loan

TMG closes a $4.5M construction to perm loan in Utah

Tags: construction loan, car wash loans, owner user loans
Sunday, Jan 19, 2020
by Jared S

Summary:  The Madison Group (TMG), a leading national lending source of construction and permanent finance nationwide, arranged the combined $4,500,000 refinance of construction loans to long term conventional permanent loans for two car washes in Utah.

With the borrower scaling on a national level, TMG was asked to help place both construction and permanent debt in certain high growth markets.  TMG assisted with various financing requirements across multiple lender programs in order to alleviate paperwork overhead of borrower’s staff.  Additionally, they assisted with terms negotiations, worked with all partners, to successfully close two loan for the properties in the Utah market.  TMG is currently working on multiple other loans for locations nationwide.   

Location:  Utah

Property:  Full-Service Tunnel Car Wash

Loan Amount: $4,500,000           

Interest Rate:  4.57%

Term:   10 Years

Amortization:   20 Years

Prepayment:   None

LTV:   65%
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Successful funding of a loan for a $5,225,000 purchase of an industrial flex building

Tags: Industrial financing, Flex building, commercial loan, NNN lease
Tuesday, Jan 14, 2020
by Barb

Summary: The Madison Group (TMG), a leading national lending source of industrial flex financing nationwide, arranged the loan for a $5,225,000 purchase of an industrial flex building with an absolute NNN national tenant in Ft. Worth, TX.   

The client had a single directive and goal in mind when engaging The Madison Group to source financing: find the very best loan available that would maximize cash flow and return on investment.  Additionally, the deal had to close in 60 days to fulfill the requirement of a 1031 exchange.  The Madison Group secured a lender who ultimately competed for the deal.  The transaction closed on time with excellent rates and terms leaving the client extremely pleased with the process and product. 

 Location:  Texas 

Property:  Industrial Flex / NNN Lease

Loan Amount: $2,875,000

Interest Rate:  3.95%

Term:   5 Years

Amortization:   30 Years

Prepayment: 5, 4, 3, 2, 1  

LTV:   55%

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TMG arranged the $1,000,000 purchase loan for a mobile home park in Illinois

Tags: mobile home park financing, MHP loans, MHP purchase loan
Friday, Jan 10, 2020
by Jared S

Summary:  The Madison Group (TMG), a leading national lending source of Mobile Home Park Financing nationwide, arranged the $1,000,000 purchase loan for a 96 unit mobile home park in Southern Illinois. 

The borrowers were seeking to work with a consultant and lender that could approach a tough transaction with both sensibility and speed.  Although a well-established park with excellent operating history and a very experienced buyer, the transaction presented certain hurdles that needed to be overcome by the right lender for the transaction.  With the flexibility and speed requested, the lender was able to secure an approval for the amount requested and terms anticipated and with the help of The team at The Madison Group navigated a challenging closing process to get the park under ownership prior to closing deadlines. 

Location:  Illinois

Property:  Mobile Home Park

Loan Amount: $1,000,000

Interest Rate: 6.25% Interest Only

Term:   5 Years

Amortization:   30 Years

LTV:  74%; LTPP: 87%