The Madison Group (TMG), a leading
national source for RV and self-storage financing, arranged a nonrecourse loan
to refinance an open RV storage facility in Idaho. The client contacted TMG
seeking a nonrecourse loan for a challenging property type. TMG sourced a
balance sheet lender that would provide 50% nonrecourse financing.
The lender, TMG, and borrower
worked closely together, and the lender’s chief credit officer joined the
introductory call, which provided confidence that the lender would ultimately
deliver terms in line with the LOI. Despite being a challenging property to
secure financing on, the lender executed, and the client was happy with the
loan.
Loan Amount: $3,600,000
Loan To Value: 50%
Interest Rate: 6.80%
Term: 5 Years
Amortization: 25 Years
Recourse: None