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The Madison Group arranges a $9,250,000 loan to refinance an anchored retail center in Southern Utah

Tags: Retail financing, Cash out refinance, retail strip financing, financing retail center, no prepayment penalty loans, cash out, cash out refi, nationwide financing, refinance retail loan, credit tenant financing, commercial loans, commercial real estate mortgage, loan for retail facility, Utah commercial real estate loans.
Tuesday, May 21, 2024
by Jared Shupe

The Madison Group (TMG), a leading national source of anchored retail financing, sourced a conventional cash out refinance loan for a retail strip center located in Southern Utah.  The refinance was needed because of a maturing CMBS facility and required dynamic structure due to an empty big box space that was under LOI during loan negotiations.  The Madison Group worked to bring multiple lending options across different lending platforms but the borrower ultimately decided on main street conventional financing due to flexibility offered with a no-prepay lender.  A very competitive rate was offered and locked through underwriting until closing and the closing process was smooth and efficient.  

   

Property: Anchored Retail  

Location: Utah

Loan Amount: $9,250,000

Interest Rate: 6.75%

Term: 5 years    

Amortization: 25 years                  

Prepayment:  None        

Guarantee: Full Recourse

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The Madison Group arranges a $2,822,000 cash out refinance loan on a multifamily property in Idaho

Tags: Multifamily Financing, Multifamily Loans, Multifamily Refinance, Commercial Loans, CRE Financing, Commercial Real Estate Loans, Cash Out, Cash Out Refi, Cash Out Refinance, Nationwide Financing, Multifamily cash out refinance; no prepayment penalty
Thursday, May 09, 2024
by Brandi Link

The Madison Group (TMG), a leading national lending source of multifamily financing, arranged a $2,822,000 cash out refinance loan on a 73-unit multifamily property in Idaho. The borrowers purchased the property in 2018 as a vacant senior living facility and converted the property to multifamily.

The borrower’s goals were to refinance the existing bank loan, get a lower rate, and get cash out to fund another multifamily conversion project. It was also important to the client to secure a 30-year amortization and have no prepayment penalty so they could refinance if rates come down. The Madison Group was able to work with a lender that was able to refinance the property at a lower interest rate and provide the cash out they needed. In the end the client was very happy with the loan they received.

 

Property: Multifamily    

Location: Idaho

Loan Amount: $2,822,000

LTV: 75%

Interest Rate: 7.15%

Terms: 10 years-adjust in 5 years  

Amortization: 30 years

Prepayment: None

Guarantee: Recourse

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The Madison Group arranges a $1,578,000 loan to purchase a mobile home community in NC.

Tags: Mobile Home Parks, Mobile Home Park Financing, Mobile Home Park Lending, Mobile Home Park Loan, Mobile Home Community Loan, Mobile Home Community Financing, Mobile Home Park Refinance, Mobile Home Community Refinance, Financing for Mobile Home Park, Loan for Mobile Home Park, MHP Financing, MHC Financing, RV Park Financing, RV Park Lender, RV Park Loan, RV Park Mortgage, Manufactured Housing Community Financing
Wednesday, Apr 17, 2024
by Brandi Link

The Madison Group (TMG), a leading national lending source of mobile home park financing nationwide, arranged a loan for $1,578,000 to purchase a Mobile Home Park in NC. The park consisted of 26 pads and 22 park owned homes.  

TMG was able to work with a lender that would allow park owned homes and give the highest leverage that was allowed. TMG presented a loan package that was very appealing to the lender to meet the needs and wants of the client. TMG worked with the lender and was able to satisfy what the client wanted, and in the end the client was very pleased with the loan terms they received.

 

Property:  MHP

Location: North Carolina

LTV: 75%

Loan Amount: $1,578,000

Interest Rate:  9.52%

Term: 5 years

Amortization: 30 years

Prepayment: 3,2,1

Guarantee:  Recourse


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The Madison Group arranges a $1,800,000 to purchase a mobile home park in Michigan

Tags: Mobile Home Parks, Mobile Home Park Financing, Mobile Home Park Lending, Mobile Home Park Loan, Mobile Home Community Loan, Mobile Home Community Financing, Mobile Home Park Refinance, Mobile Home Community Refinance, Financing for Mobile Home Park, Loan for Mobile Home Park, MHP Financing, MHC Financing, RV Park Financing, RV Park Lender, RV Park Loan, RV Park Mortgage, Manufactured Housing Community Financing, mobile home park bridge loan, bridge loan for mobile home park, MHC Bridge Loan
Tuesday, Mar 12, 2024
by Brandi Link

The Madison Group (TMG), a leading national lending source of mobile home park financing, arranged a $1,800,000 acquisition bridge loan to purchase a 391-pad distressed mobile home park in Michigan.  

The borrower’s goals were to obtain an acquisition loan to purchase a mobile home park that was in a distressed and mismanaged condition with low occupancy. Despite the mismanagement, this park had significant upside. The sponsors have approximately $1MM in immediate improvements and plan on creating a better lifestyle for the current and future tenants.

The sponsors contacted TMG and needed to close quickly. TMG worked with a lender that was able to provide a bridge loan in a timely manner. Although there were some hurtles, the loan was closed, and the client was happy with the loan terms they received. Once the park improvements are completed, the park will be a great mobile home park to live in. TMG looks forward to working with the Client to refinance the park in the next 24 months.

 

Property:  MHP

Location: Michigan  

LTV: 45%

Loan Amount: $1,800,000

Term:  2-year + 1 year extension

Rate: 10.5%

Prepayment Penalty: None

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The Madison Group arranges a $9,300,000 SBA 504 loan to purchase a hotel in the Phoenix, Arizona market.

Tags: Hotel Financing, hotel loans, 504 hotel loans, SBA hotel loans, hotel construction loans, hotel financing options, hotel business loan, boutique hotel financing, financing for hotel purchase, loan to buy hotel, hotel construction lender, hotel financing options, hotel acquisition financing, commercial mortgage for hotel purchase, SBA hotel financing
Tuesday, Mar 05, 2024
by Jared Shupe

The Madison Group (TMG), a leading national source of hospitality financing, arranged a $9,300,000 SBA 504 purchase loan for the acquisition of an 88 room hotel near the Phoenix, Arizona international airport. 

As an experienced operator and owner of hotels, the borrower was seeking the best the market had to offer for hospitality acquisition financing.  Understanding the difficult hospitality market since the pandemic restricted travel, they wanted to understand the broader market beyond their existing relationships.  The Madison Group was able to source an SBA 504 structure with excellent partners who worked diligently to meet closing deadlines through the holiday months.  Despite various hurdles throughout he process The Madison Group, Borrower, Lender, and CDC worked lockstep to work to a successful closing.  

Property: Hotel

Location: Arizona

Loan Amount: ~$9,300,000

Interest Rate: 7.75%

Term: 10 years                  

Amortization: 25 years  

Prepayment:  None        

Guarantee: Recourse

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