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Industrial Park Financing

Recent Closing: $1,050,000 Refinance of Industrial - Office Building

Tags: Industrial financing, Lower rates, Commercial Loans
Friday, Sep 25, 2020
by Barb

The Madison Group (TMG), a leading national lending source of Industrial financing arranged the $1,050,000 rate and term refinance for an Industrial Park located in Arizona. The borrower’s goals were to do a rate and term refinance to lower his current rate. The borrower also wanted to get out of his prepayment penalty.

There was a slowing of the loan process due to COVID-19. The borrower had a complicated Trust which delayed the loan while attorneys worked through the structure. The team at TMG stayed on top of the lender daily to insure a timely closing.

Location:  Arizona

Property:  Industrial – Office

Loan Amount: $1,050,000

Interest Rate:  3.50%

Term:  5-Year

Amortization:   25-Year

Prepayment:  None

Guarantee:  Recourse

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