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The Madison Group arranged a $2,078,641 multifamily construction loan to finance an 18 unit development in Utah.

Tags: Multifamily, Multifamily Financing, Multifamily Loans, Commercial Loans, CRE Financing, Commercial Real Estate Loans, construction loans, construction financing, interest only loans, development loans, development financing, no prepayment penalty
Wednesday, Apr 27, 2022
by Jared Shupe

The Madison Group (TMG), a leading source for multifamily construction and multifamily term loans, arranged a $2,078,641 construction loan for an 18 unit multifamily development in Utah

The borrower had unique needs with the construction of this project and needed a trusted lending partner to see them through the process.  They relied on The Madison Group to introduce them to a lender that not only had great rates, terms, structure and advance rates, but could also work through the contruction lending and draw process.  The Madison Group found a fantastic fit with a regional lender that specializes in multifamily construction to be the trusted partner the borrower needed. The loan funded  as quoted and on time.   

Location:  Hurricane, UT

Property:  18 unit multifamily construction

Loan Amount: $2,078,641

Interest Rate:  Prime + 1.50%

Term:   18 months

Amortization:   N/A

Prepayment:  None

LTV:   75%

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