The Madison Group (TMG), a leading
national source for multifamily term loans, arranged the purchase financing for
35 rental units. The client came to TMG seeking maximum
proceeds for a challenging property type.
TMG sourced a balance sheet lender to provide 80% financing plus closing
costs. The lender was flexible in
underwriting the borrower’s projections including the loss to lease and
provided a ample runway in covenant testing to allow the borrower time to take
over the property’s operations and improve the operations.
Loan Amount: $1,840,000
Loan To Value: 80% +
Interest Rate: 5.5%
Term: 5 Years
Amortization: 25 Years