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The Madison Group closes a $2,100,000 refinance for a Retail Center in Utah

Friday, May 26, 2017
by Jeff Meierhofer

The Madison Group (TMG), a leading source of retail financing nationwide, arranged the $2,128,000 rate and term refinance for a retail strip center in Riverdale Utah. The property consists of 4 retail units with NNN leases. The borrower was interested in maximum cash flow from the asset. The finalized terms of this loan were 4.95% interest rate, 10 year term, and a 25 year amortization with no prepayment penalty. 

The property was purchased by two out of state investors (LLCs) ten years ago.  Both owners are retired and are looking to continue to receive maximum cash flow from the property.  They were seeking the longest terms possible with an aggressive rate. They previously had a 10 year interest only loan when they purchased it 10 years ago. They were seeking a loan that provided some flexibility in the future if they decided to sell the asset - so a no prepay penalty loan was the best structure to meet their goals.

The retail center was built in 2006 and is located in a great location north of Salt Lake City.  It has 9582 gross leasable SF and has four NNN leases with quality tenants.   The tenants include Verizon and Check City.

The loan that needed to be paid off was a CMBS transaction. It had a very narrow window for payoff and it was necessary to have the loan fund during a specific time. Also, there was some lease exposure with leases coming due within the next two years. By using the excellent quality of the borrowers and the asset, TMG was able to secure a 10 year fixed product.

The borrowers needed more loan flexibility because they did not know what their future investment plans would hold. So getting the maximum cash flow and the ability to prepay early fit their financial goals.” –Said Jeff Meierhofer, TMG’s Director of Finance.

The financing was arranged by Jeff Meierhofer at The Madison Group.

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.

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The Madison Group Arranges $2,400,000 Cash-out Refinance for Office Buildings in Utah

Monday, May 08, 2017
by Jeff Meierhofer

The Madison Group (TMG), a leading source of office building financing nationwide, arranged the $2,400,000 cash out refinance for two office buildings in Salt Lake City Utah. The borrower was interested in an aggressive rate with cash out and flexibility on the prepayment penalty. The finalized terms of this loan were 4.60% interest rate fixed for 5 years, 15 year term, and a 30 year amortization. The loan has no prepayment penalty.

The new loan was for a refinance of two separate properties.  The office buildings are located in Salt Lake City Utah. The owner occupies 25% of one property with his successful engineering firm. The owner rehabbed the buildings using his own funds, and added rentable space and increased his NOI.   His financing goal was to recapture the cash he used for property improvements. The cash out loan returned the capital used for improvements to the property, and allows for future expansion on other projects.  

One of the challenges of the transaction was the income was only recently stabilized. The properties have received extensive improvements and so rents have increased over the past 6 months. Underwriting needed to be flexible and not gravitate to past performance to determine the loan amount.

“I want to thank you for taking care of this very complicated refinance.  We sure had many obstacles and thanks for pushing forward tirelessly. I really appreciate you guys for not giving up on me.” said the client at closing.  

“There were quite a few moving parts, but the borrower stuck with it and wound up getting an aggressive rate and cash out.” said Jeff Meierhofer, TMG’s Director of Finance.

The financing was arranged by Jeff Meierhofer at The Madison Group.

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.
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$5,600,000 Cashout Refinance for MHP Portfolio Arranged by The Madison Group

Wednesday, Apr 12, 2017
by Jeff Meierhofer

The Madison Group (TMG), a leading source of Mobile Home Park financing nationwide, arranged the $5,600,000 cash out refinance for a two mobile home park portfolio in Oregon. The properties had a combined total of 108 pads. The borrower was most interested in maximum cash out and a long term fixed rate. The finalized terms of this loan were a 4.98% interest rate, 15 year fixed term, and a 30 year amortization. The loan is nonrecourse.

The parks had no park owned homes and consist primarily of double wide homes. The occupancy level is very high at over 90%. The borrowers have owned the parks for over 10 years and are long-time investors in real estate.   The borrower was committed to getting a long term fixed loan that will provide future stability for payments and estate planning.

The borrower utilized the two quality parks to get cash out from the loan to pay off another smaller park and also captured equity for other business purposes. TMG worked with the owners to get maximize proceeds and structure the loan for long term benefit of the estate.

“The borrowers could not get their bank to go to 30 year amortization and a fixed loan term of 15 years,” said Jeff Meierhofer, TMG’s Director of Finance. ” We were able to provide a 15 year fixed loan in combination with a large sum of cash which worked to the borrowers benefit.”

The financing was arranged by Jeff Meierhofer at The Madison Group.

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.

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The Madison Group Arranges $1,500,000 Bridge Loan for an Office Building Purchase

Thursday, Mar 30, 2017
by Jeff Meierhofer

The Madison Group (TMG), a leading source of office financing nationwide, arranged the $1,500,000 bridge loan for the purchase of a two story office in Santa Barbara. The borrower had a short timeline on a 1031 exchange and needed to close in three weeks. The finalized terms of this loan were 4% interest rate on an interest-only loan for six months. 


This Class A single-tenant office building is 100% NNN leased. The borrowers needed a quick bridge loan as they have a close date of March 28th to purchase this asset. The buyer used his 1031 funds to purchase the well located office building near Santa Barbara. The low LTV allowed for a flexible lender to come in and commit to a closing date that satisfied the borrower’s needs.  


“Getting an appraisal done in two weeks and funding in three weeks is not the easiest thing. But the borrower was readily available and the lender made a commitment that they could close quickly and followed through with a great rate.This was a win-win for all” –Said Jeff Meierhofer, TMG’s Director of Finance.

The financing was arranged by Jeff Meierhofer at The Madison Group.

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.

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The Madison Group Arranges $720,000 Loan for the Purchase of an Office/Warehouse in Park City, Utah

Thursday, Mar 30, 2017
by Angela Kesselman

The Madison Group (TMG), a leading source of financing nationwide, arranged the $720,000 loan for the purchase of a newly constructed office warehouse in Park City, UT.  The borrower’s goals were to purchase the building with long-term financing and also secure funds to finish the interior of the unit for his business.   TMG secured the financing with a 25-year fixed rate of 5.07% and a 25-year amortization at 94% LTV.

This unique property is designed as a living/work space. The first level is true warehouse space with 14 foot overhead doors and a 20 foot ceiling height.  The 2nd floor will be built out for the buyer’s needs for his business and will consist of 1000 square feet of office space.  The 3rd floor will be finished out by the buyer as a 1 bedroom residential apartment.  The buyer plans on leasing out this space to a tenant or one of his employees.  

The property was delivered as gray shell space. The borrower had limited funds to complete the improvements.  TMG structured the loan with the construction proceeds built in, even though they were not at the point of getting their permits for the build out at the time of the loan closing.  TMG was able to facilitate the bank to close in advance of the permits.   The bank will advance the construction proceeds once the permit is received.  The borrower was able to leverage up to 94% LTV and even get a small line of credit.  This small business owner, located in Park City, Utah, will now be able to grow his business to match the strong demand for his services.  

“We are very excited for our client.  He was able to not only purchase real estate with very little out of his pocket but also customize the space to meet his small business owner needs.  He can now grow his business and reduce his costs. The transaction is also great for the community, where he provides a much-needed service,” said Angela Kesselman, TMG’s Associate Director of Finance.

The financing was arranged by Angela Kesselman at The Madison Group.

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 can be reached at 435-785-8350 or by emailing Angela at angela@madisongroupfunding.com
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