The Madison Group (TMG), a leading national source of
anchored retail financing, sourced a conventional cash out refinance loan for a
retail strip center located in Southern Utah.
The refinance was needed because of a maturing CMBS facility and
required dynamic structure due to an empty big box space that was under LOI
during loan negotiations. The Madison
Group worked to bring multiple lending options across different lending
platforms but the borrower ultimately decided on main street conventional financing
due to flexibility offered with a no-prepay lender. A very competitive rate was offered and
locked through underwriting until closing and the closing process was smooth
and efficient.
Property: Anchored Retail
Location: Utah
Loan Amount: $9,250,000
Interest Rate: 6.75%
Term: 5 years
Amortization: 25 years
Prepayment: None
Guarantee: Full Recourse