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The Madison Group arranges a $9,400,000 cash-out refinance loan for two self-storage facilities in Florida.

Tags: Self storage Financing, self storage loans, cash out refinance, self storage lending, loan for self storage facility, self storage business loans, financing self storage facilities, self storage property loans, commercial real estate loans
Tuesday, Feb 18, 2025
by Kyle Losch

The Madison Group (TMG), a leading national lending source of self-storage financing nationwide, arranged the $9,400,000 cash-out refinance loan for two self-storage facilities in Florida.    

The client approached TMG seeking a loan to refinance their existing self-storage facilities, with the intention of using the proceeds to acquire a new self-storage facility and expand their portfolio. TMG successfully partnered with a lender who was able to offer cash-out financing despite the sponsor's cost basis. Additionally, the lender provided a loan with no prepayment penalty, allowing the sponsor the flexibility to refinance or reduce the interest rate in the event of a rate decrease.

Through close collaboration between TMG, the lender, and the sponsor, the transaction was expedited, enabling the sponsor to secure the purchase of the new self-storage facility they were under contract for.

 

Property:  2 Self-storage facilities

Loan Amount:  $9,400,000

Interest Rate: 6.50%

Term:   10 years

Amortization:  30 years

Prepayment:  None



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