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The Madison Group arranged a $5.3MM loan to refinance and cash out of an existing self-storage facility in Texas.

Tags: self storage financing, self storage loans, commercial loans, cash out loan, earn out loans, no prepayment penalty, interest only loans, commercial real estate financing, commercial real estate loans
Tuesday, Apr 26, 2022
by Kyle Losch

The Madison Group (TMG), a leading national lending source for self-storage financing, arranged a $5,319,900 loan to refinance and cash out of an existing self-storage facility in Texas. The client reached out to The Madison Group with a specific financing needs. The client’s goal was to maximize his cash out at the lowest interest rate. The Madison Group was able to arrange a recourse loan with a lender that provided a loan based on future value of the self-storage facility. The client received a large portion of the loan proceeds the day of closing and has the ability to earn the rest of the committed loan proceeds through an earn-out provision. Through diligent efforts by all parties, The Madison Group and lender was able to fulfil the client’s goals.

Location: Texas

Property: 358 enclosed unit self-storage facility with parking and RV/boat storage options

Loan Amount: $5,319,900

Interest Rate: 5.125%

Term: 3 years of I/O

Prepayment: None

LTV: 65%



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