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The Madison Group arranged a $19,440,000 cash out refinance for a portfolio of 10 multi-family properties in Arkansas

Tags: Multifamily, Multifamily Financing, Multifamily Loans, Multifamily Refinance, Commercial Loans, CRE Financing, Commercial Real Estate Loans, non-recourse financing, Cash Out, Cash Out Refi, Cash Out Refinance, Nationwide Financing, Portfolio Loans
Tuesday, Jan 24, 2023
by Kyle Losch

The Madison Group (TMG), a leading source of multi-family financing nationwide, arranged a cash out refinance loan of $19,440,000 on a multi-family portfolio that consisted of 10 properties and 429 units. The repeat clients came to TMG requesting a cash out refinance loan above their total cost basis.

TMG worked hard to find a lender that would provide a cash out refinance loan above the client’s cost basis. The lender was able to structure a $17.25 million advance on day one with an earnout of $2.19 million. The lender also provided three years of interest only payments with no prepayment penalty. The clients were able to secure a large portion of cash out proceeds and are looking for additional multi-family properties to purchase.

Location: Arkansas

Loan amount: $19,440,000

LTV/LTC: 75%

Term: 10 years

Rate: 5yr fixed - 6.50%

Amortization: 3-years of I/O – followed by 30-year amortization

Prepayment: None



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