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TMG arranged the $1,425,000 purchase financing for an apartment in Utah

Tags: apartment financing, multifamily loans, Utah apartment loans
Thursday, Dec 31, 2020
by Brandi Link

The Madison Group (TMG), a leading national lending source of Multifamily financing arranged the $1,425,000 purchase financing for a 16 unit apartment in Utah. The final loan terms were a rate of 4.00% on a 5-year fixed term, 25-year amortization recourse financing.

The borrower goals were to purchase another multi-family property located near additional properties he currently owns and take advantage of the low interest rates.

TMG negotiated and worked diligently with the lender on a truly short timeline to get the transaction closed. The borrower was able to secure a loan with a low rate and close on time. The borrower is pleased with the process, the professionalism of the lender, and overall execution of the transaction. 

Location:  Utah

Property:  Multi-Family

Loan Amount: $1,425,000

Interest Rate:  4.00%

Term:   5 Years

Amortization:   25 Years

Prepayment: None 

LTV:   75%

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