The Madison Group (TMG), a leading national lending source for
multi-family construction, arranged the $9,800,000 construction loan for a new 72
unit property in Idaho.
The borrower reached out to The Madison Group with a
singular goal in mind, achieve a higher Loan to Cost construction loan than his
long-time established lender was willing to give. Our client requested an 85% LTC construction
loan and The Madison Group delivered with a lender that provided proceeds at
approximately 84% LTC at a rate of 5.00%.
Once quoted, the client, lender, and the Madison Group worked together
to get final approval, third party reports, and closing in a time frame that
allowed the client to continue progress on the project uninterrupted.
Property: 72 Unit
Loan Amount: $9,800,000
Interest Rate: 5.00%
Term: 20 months