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Mobile Home Park Financing

TMG arranged the $1.56M loan for the purchase of a low occupancy Mobile Home Park

Tags: Mobile Home Park Financing, MHP loans, Bridge loans
Thursday, Jan 23, 2020
by Angela K

Summary:  The Madison Group (TMG), a leading national lending source of Mobile Home Park financing nationwide, arranged the $1.564,000 loan for the purchase of a low occupancy park in Michigan.   The borrowers were looking for maximum financing on the purchase transaction. 

The property had a high number of vacant pads in the park, exceeding 50%.  The borrowers were able to purchase the property at a good price from a seller that lacked the finances to add additional homes.  TMG was able to secure a long-term loan with a 20 year term, 20 year amortization, at 75% of the purchase price.  TMG worked with a lender to become comfortable with the buying group and their ability to fill up the park.  The loan was structured with one year of interest only payments to help with the cash flow during lease. 

Location:  Michigan

Property:  203 pad mobile home park

Loan Amount: $ 1,564,000

Interest Rate:  5.62% Interest Only for the first 12 months

Term:  20  Years

Amortization:  20 Years

Prepayment:   3/2/1% declining

LTV:  75 %

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Successful funding of a loan for a $5,225,000 purchase of an industrial flex building

Tags: Industrial financing, Flex building, commercial loan, NNN lease
Tuesday, Jan 14, 2020
by Barb

Summary: The Madison Group (TMG), a leading national lending source of industrial flex financing nationwide, arranged the loan for a $5,225,000 purchase of an industrial flex building with an absolute NNN national tenant in Ft. Worth, TX.   

The client had a single directive and goal in mind when engaging The Madison Group to source financing: find the very best loan available that would maximize cash flow and return on investment.  Additionally, the deal had to close in 60 days to fulfill the requirement of a 1031 exchange.  The Madison Group secured a lender who ultimately competed for the deal.  The transaction closed on time with excellent rates and terms leaving the client extremely pleased with the process and product. 

 Location:  Texas 

Property:  Industrial Flex / NNN Lease

Loan Amount: $2,875,000

Interest Rate:  3.95%

Term:   5 Years

Amortization:   30 Years

Prepayment: 5, 4, 3, 2, 1  

LTV:   55%

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TMG arranged the $1,000,000 purchase loan for a mobile home park in Illinois

Tags: mobile home park financing, MHP loans, MHP purchase loan
Friday, Jan 10, 2020
by Jared S

Summary:  The Madison Group (TMG), a leading national lending source of Mobile Home Park Financing nationwide, arranged the $1,000,000 purchase loan for a 96 unit mobile home park in Southern Illinois. 

The borrowers were seeking to work with a consultant and lender that could approach a tough transaction with both sensibility and speed.  Although a well-established park with excellent operating history and a very experienced buyer, the transaction presented certain hurdles that needed to be overcome by the right lender for the transaction.  With the flexibility and speed requested, the lender was able to secure an approval for the amount requested and terms anticipated and with the help of The team at The Madison Group navigated a challenging closing process to get the park under ownership prior to closing deadlines. 

Location:  Illinois

Property:  Mobile Home Park

Loan Amount: $1,000,000

Interest Rate: 6.25% Interest Only

Term:   5 Years

Amortization:   30 Years

LTV:  74%; LTPP: 87%

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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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NNN Retail Loans

Successful Closed Loan for CVS Pharmacy in Illinois

Tags: NNN financing, Retail loans, Nonrecourse loans
Tuesday, Nov 05, 2019
by Jared S

The Madison Group (TMG), a leading national lending source of retail financing nationwide, arranged the $600,000 purchase for a CVS Pharmacy in Illinois.

The borrower’s primary goal was to find non-recourse financing for a low leverage NNN credit tenant transaction.  Based on the excellent risk parameters associated with the deal, TMG was able to secure non-recourse financing at an excellent rate resulting in a win-win for both borrower and lender.  The loan process resulted in a satisfied client who was able to achieve all of the goals for the financing of this property.  This particular deal was about finding the right lender that could offer the right terms and get to closing on a tight closing time frame. 

Location:  Illinois

Property:  CVS Pharmacy

Loan Amount: $600,000

Interest Rate:  3.75%

Term:   3 Years

Amortization:  3 Years

Prepayment:  None

LTV:   18%

Recourse: None

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