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The Madison Group Closes a $1.475M Multifamily Refinance in Provo Utah

Monday, Nov 30, 2015
by Jeff Meierhofer

Transaction Description: The Madison Group (TMG) facilitated the $1,475,000 refinance of a 26-unit apartment complex in Provo Utah. The borrower received a loan at 65% loan to value which allowed for an excellent long-term rate. The loan is fixed for 30 years with an amortization of 30 years. The borrower received a rate of 5.14%. The loan does not adjust – it is fully fixed for 30 years. This met his financial goals to hold the asset for the long term, to enjoy the cash flow, and to be able to pass on to his estate without ever having to refinance. The loan is assumable in the case that the borrower or estate decides to sell the asset in the future

Challenges: The borrower has most of his money embedded in real estate so proving liquidity was a challenge. The property needed a few minor repairs to qualify for long-term financing. The lender was able to overcome the age of property combined with the fixed term of the loan by leaning on the borrowers experience in the multifamily space and location of the property.


Loan Amount: $1,475,000  Rate: 5.14%  Amortization: 30yr  Term: 30yr  Loan To Value: 65%

“There were many moving parts on this loan and we needed to hit the date and get the rate, said Jeff Meierhofer of The Madison Group who headed up the origination team. “Our processor worked with everybody from the insurance company to the property inspector to get the job done on time.”

The financing was arranged by Jeff Meierhofer at The Madison Group.

The Madison Group ( is a commercial loan broker and consultant specializing in financing for investor properties nationwide. TMG provides flexible and reliable capital for real estate acquisitions, refinances, and re-capitalizations for a variety of property types including:  multifamily, mobile home parks, credit tenant NNN net lease, office, retail, industrial, self-storage and other commercial properties in the United States.  Established in 2001, The Madison Group’s intention is to provide highly competitive loan products through its superior capital market expertise and quality sources of capital.  TMG works efficiently and effectively to get the transaction closed and funded.

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