The Madison Group (TMG), provided a loan for a $10.4M
purchase of a retail strip building in Utah.
The clients purchased 3 of the 5 condominium units in this
project. They had previously purchased
another unit in the project, so this acquisition helped them expand their
investment. The property has good local tenant leases in place and is an active
The clients’ goals were to purchase the property with the
highest leverage available for this low cap rate purchase, while getting the
best available rate.
TMG was able to get a 65% LTV loan at a rate of 3.70% with a
10-year term and a 30-year amortization, no prepayment penalty. The 30-year amortization on the retail space
allowed them better leverage with the tight debt service coverage.
Loan Amount: $6,760,000
Interest Rate: 3.70%
Term: 10 Years
Amortization: 30 Years