The Madison Group (TMG), a leading national lending source
of self-storage financing arranged the $2,400,000 cash out refinance for a 360-unit
self-storage facility with adjoining retail and executive office strip
space.
Owning a property with excellent equity, the borrower was in
the market for the absolute best rates and terms the market could offer. Loan application and approval process efficiency
were also particularly important to the borrower. The Madison Group quickly turned multiple
offers back to the borrower, including recourse and nonrecourse options, and a
mix of various rates and terms. The
borrower had enlisted multiple sources to find appropriate financing for the
subject and ultimately the offer presented by The Madison Group won out against
the multiple other offers received from other sources.
The loan approval, documentation and closing process went
very smoothly as a result of experienced lenders and oversight from The Madison
Group’s closing department.
Location: Georgia
Property: Storage
Facility and Executive Office and Retail
Loan Amount: $2,400,000
Interest Rate: 3.33%
Term: 10 Years
Amortization: 30
Years
Prepayment: Yield
Maintenance
LTV: ~25%