The Madison Group (TMG), a leading national lending source of commercial real estate financing, arranged a $1,085,000 loan to purchase 55.43 acres in Montgomery County, Texas.
The clients came to TMG requesting a high leverage loan to purchase the land. The client’s goals were to subdivide the property using one of the parcels for building a new corporate office campus and developing the other parcels for various company purposes.
TMG was able to work with a lender to provide a 70% loan to value land loan which allowed the clients to put less money down than previous land acquisitions they had completed.
Property: Land
Location: Texas
Loan Amount: $1,085,000
Interest Rate: 2 years fixed at 7.25%
Term: 2-year term
Amortization: 25-Years
LTV: 70%
Prepayment: No pre-payment penalty
Guarantee: Recourse