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The Madison Group arranged a $5,700,000 loan to cash out and refinance a hotel to multifamily conversion property in OK

Tags: Multifamily, Multifamily Financing, Multifamily Loans, Multifamily Refinance, Commercial Loans, CRE Financing, Commercial Real Estate Loans, no prepayment penalty, Cash Out, Cash Out Refi, Cash Out Refinance, Hotel Loans, Hospitality Loans
Thursday, Nov 17, 2022
by Kyle Losch

The Madison Group (TMG), a leading national source for multifamily loans, arranged the $5,700,000 loan to cash out and refinance a 110-unit apartment building in Oklahoma.

The client came to TMG seeking to cash out and refinance the apartment building after they completed most of the hotel to multifamily construction. TMG found a lender that was able to refinance and provide cash out above the client’s cost basis.

Location: Oklahoma

Property: 110-unit apartment building

Loan Amount: $5,700,000

Interest Rate: 5.25% 5-year fixed rate

Term: 10 years

Amortization: 30 years

Prepayment: None

LTV: 51.8%



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