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Self Storage financing

Successful Closed Loan: $2,400,000 cash out refinance for a 360-unit self-storage facility

Tags: self storage financing, cash out loans, commercial real estate loans
Tuesday, Aug 04, 2020
by Jared Shupe

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%

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