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Industrial Loans

Recent Closing: $6MM cash out refinance of an industrial property in Utah

Wednesday, Jun 24, 2020
by Angela Kesselman

Summary:  The Madison Group (TMG), arranged a cash out refinance of an industrial property in Utah. The borrower’s goals were to quickly payoff an existing short-term loan and avoid extension fees while getting some cash out.

TMG was able to secure financing on a 25-year amortization with a 10 year call at 4% on this owner occupied manufacturing facility.  The borrower also received an 80% loan to cost loan with cash out on this property that only had been owned for 6 months.  “We were not only able to refinance in a few weeks from start to finish, but also gave the borrower some cash out for operations with a nice low interest rate,” said Angela Kesselman – TMG’s Associate Director of Finance

Location:  Salt Lake City

Property:   Industrial

Loan Amount: $ 7,612,000

Interest Rate: 4%

Term:   10 Years

Amortization:  25 Years

Prepayment:   None

LTC:   80%

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