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The Madison Group arranges a $1,200,000 acquisition loan to purchase a 189-unit storage facility in upstate New York

Tags: Financing self storage facilities, loan for storage building, loans for self storage business, mini storage financing, self storage commercial loans, self storage construction lenders, self storage facility lenders, self storage facility loan, self storage financing, self storage loans, self storage mortgage brokers
Tuesday, Feb 27, 2024
by Jared Shupe

The Madison Group (TMG), a leading national source of self-storage financing, arranged a $1,200,000 loan to acquire a 189-unit self-storage facility in upstate New York.   

This loan was a referral from one of our residential partners with a group of investors poised to acquire properties nationwide.  Based out of the west, the investment group needed a nationwide lender that would reach to New York but that could also handle future acquisitions in various locations throughout the country.  The Madison Group found and introduced a lender that worked quickly and efficiently to close the subject property, and a relationship was built to do future business. 

 

Property: Self-Storage

Location: New York

Loan Amount: $1,172,500

Interest Rate: 7.75%

Term: 10 years  

Amortization: 30 years                  

Prepayment:  None        

Guarantee: Recourse



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