The Madison Group (TMG), a leading national source of
student housing financing, arranged a $935,000 loan for the acquisition of a 34-bed
student housing facility in Pennsylvania.
As an experienced operator and owner of student housing
facilities, the borrower came to The Madison Group to source financing that
would accommodate the required economics and investment strategy of this
property. The main priorities of the
borrower were an interest only period and no prepayment penalty. The Madison Group sourced a 65% LTC loan with
3 years interest only upon inception with no prepayment penalty. Borrower, lender and The Madison Group worked
lockstep through underwriting and closing to achieve a successful
purchase.
Property: Student Housing
Location: Pennsylvania
Loan Amount: $935,000
Interest Rate: 7.625%
Term: 10 years
Amortization: 30 years; Initial three years interest only.
Prepayment: None
Guarantee: Full Recourse