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The Madison Group arranges a $2,780,000 construction loan for a retail center in Utah.

Tags: Retail Strip Loan, Construction Loan, Commercial Construction Loan, Anchored Strip Center Financing, Retail Commercial Loans, Retail Strip Financing, Shopping Center Loans, Commercial Property Loans, Retail Space Loans, Retail Center Loans, Retail Shopping Center Financing, Retail Construction Loans, Retail Development Loans, Construction Financing, Commercial Real Estate Loans, Shopping Center Financing
Tuesday, Sep 10, 2024
by Brandi Link

The Madison Group (TMG), a leading national lending source for construction loans arranged a $2,780,000 construction loan for a 5,349 sqft 4-unit retail center in Utah. The clients had preleased two spaces to tenants, which included a pizzeria and a doctor’s office.

TMG was able to find a trusted lender to satisfy what the clients needed. TMG worked closely, with both the lender and borrower, to work through various lending program parameters and document requests. Although this loan was very challenging to close due to all the obstacles that were faced. TMG worked diligently every step of the way. In the end the clients are very pleased with their loan and plan to break ground very soon.

 

Property:  Retail                                                      

Loan Amount: $2,780,000

Interest Rate:   9.50%

Amortization:   25 years

Prepayment:  None

Recourse: Yes



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