The Madison Group (TMG), a leading national source of financing
for office buildings, arranged a $2,900,000 loan to refinance an office
building in California. Looking to refinance their current life company loan before
the maturity date, the client reached out to TMG and asked for loan options.
The client was particularly looking for a loan with a few years of interest
only payments, a 30-year amortization, and the ability to prepay the loan
without penalty.
TMG worked with several lenders to provide a variety of
quotes to the client. One lender, really went above and beyond with their
terms, checking off all the client’s boxes: refinance loan, 3 years I/O,
30-year amortization, and no prepayment penalty. The client was very happy and
now has the ability to pay off his property whenever he wants.
Property: NNN Office
Location: California
Loan Amount: $2,900,000
Interest Rate: 6.5%
Term: 10 years
Interest Only: 3 years
Amortization: 30 years
Prepayment: None
Guarantee: Full Recourse