The Madison
Group (TMG), a leading national lending source for mobile home park financing arranged
the $1,200,000 refinance and cash out loan for a 42-pad mobile home park in Minnesota.
The park was purchased by our client in 2016 with private
financing. After completing significant
renovations and upgrading the park with personal cash, the borrower wanted to
re-leverage the park with some cash out to replenish personal cash
reserves. The Madison Group was able to
secure the right financing tailored to the cash flow and other dynamics of the
park operations.
Location: Minnesota
Property: Mobile Home
Park – 42 Pad, 6 acre Park
Loan Amount: $1,200,000
Interest Rate: 5.31%
Term: 5 Years
Amortization: 30 Years
Prepayment: 3,2,1,1,1
LTV: 75%