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Multifamily Loans in Utah

The Madison Group arranged the $2.8MM purchase financing for a 21 unit multifamily building

Tags: Multifamily Financing, Interest Only terms, Commercial Loans in Utah
Friday, Oct 01, 2021
by Jared Shupe

Summary:  The Madison Group (TMG), a leading national lending source for Multifamily finance arranged the $2,800,000 purchase financing for a 21 unit multifamily building in downtown Salt Lake City.

The borrower’s were repeat clients of The Madison Group.  They have many of their own financing  sources, however, this particular deal was unique in that the borrowers were asking for certain terms that were unavailable from their own lending relationships.  They relied on TMG to source financing with the unique terms and structure requested and close the transaction on time according to the purchase agreement.  Financing was secured at market rates despite the unique terms requested by the investment group. 

Location:  Salt Lake City, UT

Property:  21 unit multifamily property

Loan Amount: $2,800,000

Interest Rate:  4.00%

Term:   5 Years; 2 Years Interest Only

Amortization:   30 Years

Prepayment:   None

LTPP:  70%



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