Summary:  The Madison
Group (TMG), a leading national lending source for Self Storage financing arranged
the $6,250,000 cash out nonrecourse refinance for a 466 unit self storage
facility in Utah.  
The borrower initially approached TMG for a construction
facility on another project.  Needing
cash quickly, the borrower inquired about cash out possibilities for a self
storage asset that he had owned for a couple of years.  Initial analysis of the project determined it
was a great fit for a nonrecourse lender that TMG uses regularly for multiple
asset classes, but primarily self storage. 
TMG worked with client and lender to get the deal approved
and rate locked at a sub 3% rate fixed for 5 years with substantial cash out to
inject into other real estate projects all on a non-recourse basis.  TMG also utilized its in-house processing and
closing team to assist the lender with non-recourse closing requirements.  
Location:  Clinton, UT
Property:  466
enclosed self storage facility with 89 RV parking spaces.  
Loan Amount: $6,250,000 
Interest Rate:  2.97% 
Term:   5 Years 
Amortization:   30 Years
Prepayment: 5, 4, 3, 2, 1 
LTV:   60%