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The Madison Group arranged the $1.7 MM refinance for a 27 unit townhome project in Utah

Tags: Multifamily Financing, Condo Development Loans, Commercial Loans, Utah Commercial Loans, Apartment Loans
Tuesday, Dec 07, 2021
by Brandi Link

Summary:  The Madison Group (TMG), a leading national lending source for Multifamily properties, arranged the $1,750,000 refinance for a 27- unit townhome project. The borrower’s goal was to put one loan across all 27 units, and to have this loan be the last time they finance the property. The final loan terms were 3.60% with a fixed 20-year term and a 20-year amortization. Even though these terms are not readily available in the market, TMG was able to secure a loan product that fit the borrowers for a 20-year fixed loan program with flexible prepayment terms.

TMG collaborated diligently with the client, title, and lender, to facilitate a closing before year end. TMG utilized its in-house processing and closing team to assist the lender with the closing requirements. The borrower was very satisfied with the interest rate and terms they received.

Location:  Utah

Property:  27 Townhomes

Loan Amount: $1,750,000

Interest Rate:  3.60%

Term:  20 years  

Amortization:  20 Years

Prepayment:  5,5,4,4,3,2,1  

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