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The Madison Group arranged a $2,700,000 loan to cash out and refinance a multifamily property in Oklahoma

Tags: Multifamily, Multifamily Financing, Multifamily Loans, Multifamily Refinance, Commercial Loans, CRE Financing, Commercial Real Estate Loans, no prepayment penalty, Cash Out, Cash Out Refi, Cash Out Refinance,
Tuesday, Aug 30, 2022
by Robert Chase

The Madison Group (TMG), a leading national source for multifamily term loans, arranged the $2,700,000 loan to cash out and refinance a 44-unit apartment building in Oklahoma.

The repeat client came to TMG seeking to cash out and refinance the apartment building during stabilization. TMG found a lender that was willing to issue a term sheet and begin due diligence during stabilization. The loan was closed two weeks after meeting occupancy thresholds.

Additionally, the lender locked the interest rate in for 60 days after the LOI was singed.

Location: Oklahoma

Property: 44-unit apartment building

Loan Amount: $2,700,000

Interest Rate: 5.25% 7-year fixed rate

Term: 10 years

Amortization: 30 years

Prepayment: None

LTV: 75%



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