This transaction turned out to be very unique from inception to close. The borrower resides in California and needed a qualified national lender that could help him finance the properties located in the Carolinas. The Madison Group quickly located a lender that quoted the deal. The most challenging part of the deal was the rapidly rising interest rates during a lengthy and delayed due diligence phase. The borrower needed a lender to honor quoted rates to meet his investment goals given the agreed upon purchase price for the assets and a rapidly changing market. The Madison Group worked diligently with borrower, seller, lender, respective attorneys, title, and brokers to meet the goals of the borrower and close what will prove to be a very competitive loan in today’s rate environment.
Location: Ft. Mill,. South Carolina & Raleigh, North Carolina
Property: NNN
Loan Amount: $3,640,000
Interest Rate: 3.99%
Term: 10 Years
Amortization: 30 Years
Prepayment: None
LTV: 70%