The Madison Group (TMG), a leading source of commercial financing nationwide, arranged the $4,500,000 nonrecourse refinance for a light industrial building located in a tertiary MSA in Wisconsin. The borrower’s goals were to get an aggressive rate fixed for the full term of the loan. The finalized terms of this loan were 4.33% interest rate, 15-year term, and a 15-year amortization.
The property consists of a single-tenant, light industrial and office facility of 105,000 square feet. The facility contains approximately 5,470 square feet of finished office area, and the remainder of the building is unfinished manufacturing area. The building is occupied by a non-credit grade single tenant. The current lease is firm term for seven years with options.
The borrower was motivated to get a nonrecourse loan as the entity is a small group of family investors and they required a loan that was made to the entity, not the individuals. The borrowers were coming off a 10-year fixed term at a higher rate and were determined to have a loan that would be self-amortizing, without the need to refinance this property again.
“Finding the right fit with a lender that could combine a fixed term with a nonrecourse assumable loan was paramount. The borrower trusted TMG to deliver, and we worked with diligently to perform and meet the borrower’s goals.” Said Jeff Meierhofer, TMG’s Director of Finance.
Jeff Meierhofer of the Madison Group arranged the financing.
The Madison Group (www.madisongroupfunding.com) 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.
The Madison Group and Jeff can be reached at 435-785-8350 or by emailing Jeff at Jeff.M@madisongroupfunding.com.