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Apartment Loans

Recent Closed Transaction - 20 unit apartment in Texas

Tags: apartment financing, Multifamily Loans, TIC loans
Friday, Oct 25, 2019
by Angela K

Summary:  The Madison Group (TMG), a leading national lending source of multifamily financing nationwide, arranged the $1,500,000 refinance for a 20 unit apartment building in Austin TX. 
The borrower’s goals were to get a low rate, cash out, and have the option for partial releases on a three person TIC ownership structure.

TMG was able to work with a national credit union to satisfy all of their needs.  The property consists of a mix of townhome style units with three separate owners.  They were able to get their cash out and have the ability to pay all or part of the units off in the future if any of the partners decide to sell their interest.  There is no prepayment penalty as well as a 30 year amortization to maximize their cash flow.  

Location:  Texas

Property:  20 unit Multifamily

Loan Amount: $1,500,000

Interest Rate:  4.15%

Term:  10 Years

Amortization:  30 Years

Prepayment:   None

LTV:  73 %

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