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RV Park Financing

TMG arranged the $1,225,000 loan for the purchase of an RV Park in California

Tags: RV Park Loans, MHP Financing, Bridge Loans
Wednesday, Dec 04, 2019
by Angela K

The Madison Group (TMG), a leading national lending source of Mobile Home Park financing nationwide, arranged the $1,225,000 loan for the purchase of an RV Park in California.

The buyer had a short due diligence period and a hard deadline for closing.  They also wanted the best available rate and max available loan proceeds for this asset class. TMG was able to secure the loan with a specialty lender that was comfortable with the collateral type. Some challenges to the financing included the property being located in a flood zone, sellers with financials that were difficult to analyze, and both long/short term RV and mobile home rents.  TMG was able to get the client a loan with a good rate and a 30-year amortization which maximized cash flow long term on this property. 

Location:  California

Property:  RV & Mobile Home Park

Loan Amount: $1,225,000

Interest Rate:  5.0 %

Term:   10 Years

Amortization:   30 Years

Prepayment:   3%/2%/1%

LTV:   71.4%



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