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The Madison Group arranged a loan to purchase a retail strip building for $10.4MM in Utah

Tags: Retail Financing, Retail Building Financing, Commercial Real Estate Loan, Commercial Loan, Multi-tenant loans, Condominium Unit Financing, Commercial Loans
Monday, Feb 07, 2022
by Angela Kesselman

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 center. 

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. 

Location:  Utah

Property:  Retail

Loan Amount: $6,760,000

Interest Rate:  3.70%

Term:   10 Years

Amortization:   30 Years

Prepayment:   None

LTV:   65%

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