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The Madison Group facilitates a $930,000 construction loan for a 12 unit apartment complex in Boise

Tuesday, Jun 09, 2015
by Jeff Meierhofer

Transaction Description

The Madison Group, a commercial broker and loan consultant, has facilitated the construction and permanent financing of a 12-unit apartment complex in Boise ID.

Challenges

The owner only needed a construction loan on three four-plex pads within a larger complex.  The challenge was there were different owners on the other pads within the project.  The borrower also wanted to secure permanent financing at the time of construction.

Solutions

The Madison Group was able to bring in a lender that offered an 18 month construction loan at 4.75% interest only that converts to a perm at the end of the term.  The lender approved a 75% LTC loan plus the closing costs added on top of the proceeds.

The financing was arranged by Angela Kesselman 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.

The Madison Group and Angela Kesselman can be reached at 435-659-2200 or by emailing Angela at angela@madisongroupfunding.com.