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The Madison Group arranged a $5,700,000 loan to cash out and refinance a hotel to multifamily conversion property in OK

Tags: Multifamily, Multifamily Financing, Multifamily Loans, Multifamily Refinance, Commercial Loans, CRE Financing, Commercial Real Estate Loans, no prepayment penalty, Cash Out, Cash Out Refi, Cash Out Refinance, Hotel Loans, Hospitality Loans
Thursday, Nov 17, 2022
by Kyle Losch

The Madison Group (TMG), a leading national source for multifamily loans, arranged the $5,700,000 loan to cash out and refinance a 110-unit apartment building in Oklahoma.

The client came to TMG seeking to cash out and refinance the apartment building after they completed most of the hotel to multifamily construction. TMG found a lender that was able to refinance and provide cash out above the client’s cost basis.

Location: Oklahoma

Property: 110-unit apartment building

Loan Amount: $5,700,000

Interest Rate: 5.25% 5-year fixed rate

Term: 10 years

Amortization: 30 years

Prepayment: None

LTV: 51.8%

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The Madison Group arranged a $1,500,000 loan to refinance and cash out on an existing MHP in Oregon

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan, cash out refi, cash out refinance
Wednesday, Oct 12, 2022
by Kyle Losch

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a $1,500,000 mobile home park loan to refinance and cash out on an existing park in Oregon. The 58-pad park is located on 12.6 acres and was 46% occupied. There were 26 park owned homes. The clients came to TMG looking for a loan to payoff their existing sellers carry note, get reimbursed for some capital expenditures, and fund the rest of the capital expenditures to complete the park.

TMG was able to arrange a $1,500,000 loan with a 6.75% 12-year fixed rate and a 30-year amortization. TMG and the client worked closely with the lender to create a loan structure that fit their needs, including an interest reserve and 12 months of interest only payments. The lender also decreased the interest rate by about .50% due to the increasing interest rates. Ultimately, the client was able to lock in a 12-year fixed rate at 6.75%. The loan structure was great for the client, allowing them to cash out of their mobile home park and fund future improvements.

Location: Oregon

Loan Amount: $1,500,000

Interest Rate: 12-year fixed rate of 6.75%

Interest Only: 12 months

Term: 12-years

Amortization: 12 years

LTV: 80%

Recourse

Prepayment: 5,4,3,0

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The Madison Group arranged a $502,500 loan to refinance and cash out on an existing MHP in Texas

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan, cash out refi, cash out refinance, no prepayment penalty, no prepayment penalty loan
Thursday, Oct 06, 2022
by Paul Kuster

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a $502,500 loan to refinance and cash out on an existing mobile home park in Texas. The 25-pad park is located on 18 acres and was 100% occupied. There were 5 park owned homes and 20 tenant owned homes.

The Madison Group was able to arrange a $502,500 loan with a 5.90% five-year fixed rate and a 25-year amortization. The Madison Group was also able to obtain a loan with no prepayment penalty so the sponsors could refinance without penalty at any time. The loan structure was perfect for the client, allowing them to cash out of their existing mobile home park and purchase another park to add to their portfolio.

Location: Texas

Loan Amount: $502,500

Interest Rate: 5-year fixed rate: 5.90%

Term: 5-years

Amortization: 25 years

LTV: 80%

Recourse

Prepayment: No Prepayment Penalty

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The Madison Group arranged a 50/40/10 SBA 504 loan on a $6,000,000 owner occupied industrial property in Texas

Tags: Commercial Financing, Owner Occupied Financing, SBA financing, industrial financing, Nationwide Financing, Texas Financing, Commercial Real Estate Loans, 504 Loans
Tuesday, Sep 27, 2022
by Kyle Losch

The Madison Group (TMG), a leading national source of owner occupied commercial real estate loans, arranged an SBA 504 loan to purchase a 63,000+ sqft manufacturing facility in Texas. The repeat client contacted TMG requesting 90% financing to purchase a manufacturing facility they occupied.

TMG quickly identified this as an SBA 504 loan opportunity and was able to arrange a 50/40/10 SBA 504 loan with an SBA 504 lender and local CDC. With the teamwork of everyone involved, we were able to close the loan before the FOMC’s September interest rate hike. It was truly a team effort, and the process required a lot of attention to detail by all parties. In the end, the borrowers were very satisfied with their 90% financing.

Location: Texas

Property: Owner Occupied manufacturing / industrial

Bank Loan: $3,095,000

Interest rate: 6.5% - 5-year fixed rate

Term: 33 years with 3 years of interest only payments

Amortization: 30 years

Prepayment: Standard SBA 504 prepayment penalty

CDC Loan: $2,476,000

Interest Rate: 5.18% - 10-year fixed rate

Term: 10 years

Amortization: 25 years

Prepayment: Standard SBA 504 prepayment penalty

LTV: 90%

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The Madison Group arranged the financing for a $4.5MM land purchase of 66-acres in Texas

Tags: Land Purchase Loans, Commercial Financing, Nationwide Financing, Construction Loans, Development Financing
Thursday, Sep 22, 2022
by Jared Shupe

The Madison Group (TMG), a leading source of land financing nationwide, arranged a $3.6MM purchase money land loan for 66-acres in Texas. The Borrower contacted TMG and requested a high leverage land loan so he could self-finance the development.

The property consisted of a SFR and 66-acres. The client’s goals were to purchase the property, develop the land into 45 lots, and sell the individual lots to residential home builders and consumers looking to build their dream home. TMG was able to find a lender that was, not only able to finance 80% of the purchase price, but also was able to lock in the interest rate for 45 days. With this amount of leverage, the client was able to self-finance the development of the land.

Overall, the client was very happy with the loan terms and how quick the lender was able to close. The client is excited to move forward with the development and sell the lots for residential homes.

Location: Texas

Loan amount: $3,600,000

Loan-to-value: 80%

Term: 5 years with 12 months of I/O

Rate: 5.65%

Amortization: 25-year amortization

Prepayment Penalty: None

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