Madison Group (TMG), a leading national source for multifamily term loans,
arranged the $5,175,000 cash out refinance of a 120-unit apartment building in
The client came
to TMG on a separate multifamily purchase and was already in process of an
agency refinance to partially fund the new purchase. Market rates moved during the agency process
and put this transaction in jeopardy.
TMG stepped in and arranged for a balance sheet lender to provide this
financing while providing a 60 day rate lock early in the loan process. Additionally, TMG worked with the new lender
to utilize the existing due diligence and close this transaction in 35 days to
ensure the borrower could continue to grow their portfolio.
120-unit apartment building
10 years; 7 year re-price