The Madison Group (TMG), a leading
source of non-recourse and
nationwide, arranged the loan on a $10.65M purchase of a MOB in Texas. The borrower’s goals were to acquire
the property with max leverage, obtain a non-recourse loan, and meet 1031 deadlines.
was in operation for a few years with a local credit tenant that has several
other facilities. The asset was part of
a portfolio of similar properties. There
was a newly negotiated 10-year lease on the property.
TMG was able to
arrange a 65% LTV loan with three years of interest only to maximize the cash
flow for this repeat client. In
addition, we were able to secure a non-recourse loan with a 30-year
amortization and close quickly.
“The buyer is very excited to buy this
asset and was very happy that we were able to maximize the profitability of
this asset with the IO feature and the 30-year amortization, along with the
non-recourse on this non-credit tenant.” said
Angela Kesselman, TMG’s Associate Director of Finance.
Property: Medical Office Building
Interest Rate: 4.20% fixed for
Amortization: 30-years with 3-years
of interest only