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Multifamily Financing

The Madison Group arranged the $9.8MM construction loan for 72 unit apartment

Tags: Apartment construction loan, Multifamily financing, Construction Financing, 85% LTC
Wednesday, Jul 28, 2021
by Barb

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.  

Location:  Idaho

Property:  72 Unit Multi-Family Construction

Loan Amount: $9,800,000

Interest Rate:  5.00%

Term:   20 months

Amortization:  N/A

Prepayment:   None

LTV:   84%

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