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%