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%