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NNN Industrial Property Financing

The Madison Group arranged the $3MM cash out refinancing for an NNN industrial property ground lease in Utah

Tuesday, Jun 22, 2021
by Barb

Summary:  The Madison Group (TMG), a leading national lending source for ground lease financing arranged the $3,100,000 cash out refinancing for an NNN industrial property ground lease in North Salt Lake City, UT. 

The borrower engaged TMG with a primary goal to maximize cash out proceeds.  The property has a recently executed and very strong NNN ground lease coupled with some lease rollover exposure on the other half of the property.  TMG worked closely with a local lender to get them comfortable with the large cash out request.  They did this by listening to the client, understanding the history of the borrowers and project, and effectively communicating to the lender why the cash out transaction made sense for all parties.  TMG then worked with the lender and borrower to gather documents and obtain loan terms that met the borrower goals. The team then worked through a complicated processing and closing procedure to get the loan closed.       

 

Location:  Utah

Property:  Industrial Ground Lease

Loan Amount: ~$3,100,000

Interest Rate:  4.00%

Term:   10 Years

Amortization:   25 Years

Prepayment:   None

LTV:  70%




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