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TMG closed purchase financing for NNN single tenant building in Texas

Tags: NNN Financing, Single Tenant, Commercial Loan
Wednesday, Jan 13, 2021
by Angela Kesselman

The Madison Group (TMG), a leading national lending source for medical facilities, arranged a $2.9M purchase transaction for this repeat investor.  The property included a rehabbed building and a new facility with a NNN lease in place on this single tenant transaction.   

The borrower’s goals were to satisfy his 1031 exchange requirements, while achieving an aggressive rate and terms with maximum loan proceeds.

TMG was able to get the borrower an excellent loan through a regional bank on this single tenant NNN asset, without a credit grade tenant.  The rate on the transaction was locked in at 4.05% for 5 years, with a 10 year term, and a 25 year amortization. 

Location:  Texas

Property:  NNN single tenant medical related building

Loan Amount: $ 2,082,000

Interest Rate:  4.05%

Term:  10 Years

Amortization:  25 Years

Prepayment: 5/4/3/2/1% open thereafter, or open at year 3 upon sale  

LTV:   70%


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TMG arranged the $1,425,000 purchase financing for an apartment in Utah

Tags: apartment financing, multifamily loans, Utah apartment loans
Thursday, Dec 31, 2020
by Brandi Link

The Madison Group (TMG), a leading national lending source of Multifamily financing arranged the $1,425,000 purchase financing for a 16 unit apartment in Utah. The final loan terms were a rate of 4.00% on a 5-year fixed term, 25-year amortization recourse financing.

The borrower goals were to purchase another multi-family property located near additional properties he currently owns and take advantage of the low interest rates.

TMG negotiated and worked diligently with the lender on a truly short timeline to get the transaction closed. The borrower was able to secure a loan with a low rate and close on time. The borrower is pleased with the process, the professionalism of the lender, and overall execution of the transaction. 

Location:  Utah

Property:  Multi-Family

Loan Amount: $1,425,000

Interest Rate:  4.00%

Term:   5 Years

Amortization:   25 Years

Prepayment: None 

LTV:   75%

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TMG arranged for the $6.5MM purchase and refinance loans for three RV Parks in Utah

Tags: RV Park Financing, RV and MHP commercial loans, SBA loans for RV Parks
Wednesday, Dec 30, 2020
by Angela Kesselman

Summary:  The Madison Group (TMG), a leading national lending source of RV Park financing arranged 3 loans in Utah totaling $6,500,000. Two of the RV Parks were purchases and qualified through SBA 504 loans and the other was a cash out refinance of an existing RV Park.

The borrower’s goals were to cash out his existing RV park and buy two other parks with SBA financing.  The three RV parks are in good locations near national and state parks.  Both purchase loans had a hard deadline and needed to be closed and funded by the end of the year. TMG worked closely with the lender and the borrower to meet the deadlines for a successful closing.

TMG provided a cash out refinance of one park at an LTV of 72% on a conventional loan with a 4% interest rate on a 25-year amortization and a 10-year fixed term.  This park has been owned by the borrower for two years and he had greatly increased revenues during ownership.  He used this capital to purchase the others two parks with 80% and 85% LTV SBA 504 loans, respectively. TMG was able to facilitate money for capital improvements on the higher leveraged park. The loan was slightly above the 85% purchase money underwriting guideline and included a 3-month interest reserve to be used during the slow season.  Both SBA loans were financed with 4% fixed rate financing on the first mortgages. The 2nd mortgages will be securitized at a rate in the mid 2s for 25 years.  In addition, they may both qualify for the SBA Covid stimulus providing no payments for 6 months. 

The Madison Group provided the critical piece of the puzzle by providing a cash out loan on the existing park. This access to equity enabled the client to purchase two more assets and grow his portfolio threefold. 

Location:  Utah

Property:  3 KOA RV Parks

Loan Amount: Combined for a total of $ 6.5M

Interest Rate: 4% on bank loans, mid 2’s on 2nd mortgages

Term:  25 Years

Amortization:   25 Years

Prepayment:   None on first mortgages, 10 year declining on SBA

LTV:   72% cash out on conventional loan, 80 and 85% on the SBA transactions

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TMG arranged the $3,300,000 purchase of an RV Park in Utah

Tags: RV Park Financing, Commercial Financing, RV Park Loans
Wednesday, Dec 30, 2020
by Brandi Link

Summary:  The Madison Group (TMG), a leading national lending source of RV Park financing, arranged the $3,300,000 purchase of an RV Park in Utah. The final loan terms were a rate of 4.45%, with a 10-year fixed rate term and 30- year amortization.

The client’s goals were met by providing a cash out loan to buy out the partners. The borrowing entity   owned the park over 20 years and created a great deal of equity. The park is owned free and clear, so it was necessary to structure a maximum cash out loan to pay off the other partners. The park is currently managed by one of the owners who remained as the sole owner. TMG obtained financing that allowed the manager/owner to become the owner of the RV Park without partners.

TMG negotiated the best loan terms with a quality lender and assisted the borrower during the loan process. There were some legal circumstances that needed mitigation regarding the borrowing entity but TMG worked with the lender and underwriting to get the loan closed in a timely manner. The rate is low and provides excellent cash flow. The borrower is pleased with the process, the professionalism of the lender, and overall execution of the transaction.   

Location:  Utah

Property: RV Park

Loan Amount: $3,300,000

Interest Rate: 4.45%

Term:  10 Years

Amortization:  30 Years

Prepayment: None

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TMG closed a cash out refinance for a mixed-use property in Utah

Wednesday, Dec 30, 2020
by Brandi

The Madison Group (TMG), a leading national lending source of commercial property financing, arranged the $712,500 cash out refinance for a mixed-use property in Utah.  The property consisted of a 4-unit apartment on the upper level and 2 commercial spaces on the lower level.  The final loan terms were a rate of 4.25% on a 10-year fixed term, 25-year amortization recourse financing.

The borrower goals were to lower his current interest rate and get some cash out to purchase an additional property.  

TMG negotiated and worked diligently with the lender on a cash out refinance to give the borrower the cash they needed to purchase another property. The borrower was able to secure a loan with a lower rate and close in time to purchase another real estate transaction.  

Location:  Utah

Property:  Mixed Used

Loan Amount: $712,500

Interest Rate:  4.25%

Term:   10 Years

Amortization:   25 Years

Prepayment: None 

LTV:   75%

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