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The Madison Group arranges a $935,000 loan to purchase a student housing facility in Pennsylvania

Tags: Student Housing Financing, Commercial Mortgage, Multifamily Financing, Multifamily Loans, Loans for Multifamily Property, Loans for Student Housing Property, Financing for Apartment Buildings, Multifamily Lending
Tuesday, Jan 30, 2024
by Jared Shupe

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



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