The Madison Group (TMG), a leading commercial mortgage
banking firm, has successfully closed a $1.26 million refinance loan for a
well-located retail strip center in Texas.
The borrower sought assistance after their large national
bank declined to renew the existing loan. Although the property had a strong
operating history, it was in the midst of some routine tenant rollover,
creating challenges in securing traditional financing.
The Madison Group leveraged its broad network of lenders to
market the opportunity extensively. Several community banks expressed interest,
and TMG ultimately arranged favorable financing with a competitive rate and
terms that met the client’s long-term goals.
Loan Highlights:
- Loan Amount: $1,260,000
- Interest Rate: 7.25%
- Term: 5 Years
- Amortization: 25 Years
- Lender Type: Community Bank
- Property Type: Retail Strip Center
- Location: Texas
“This
deal is a great example of how we step in when institutional lenders back out,”
said Robert Chase, Loan Advisor at The Madison Group. “By tapping into our
relationships with community lenders, we were able to secure financing that
gave our client the flexibility and security they needed to continue managing a
successful property.”