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Construction Loan

Recent Closing: $4,500,000 to complete the construction of a 27-unit town home project

Tags: construction loan, Town home financing, Utah commercial loans
Tuesday, Apr 14, 2020
by Angela Kesselman

Summary:  The Madison Group (TMG), a leading source of lending nationwide, arranged a $4,500,000 loan to complete the construction of a partially built 27-unit town home project. The out of state borrower had funded the project personally and decided midway through the project to put debt in place to conserve cash.

TMG was able to put a construction loan in place to for the completion the of the project and give the owner back some of the funds that he had already injected.  He received a one-year note fixed at 5%.

Location:  Utah

Property:  Multifamily

Loan Amount: $4,500,000

Interest Rate: 5%

Term:   1 Year

Amortization:   Interest only

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