The Madison Group (TMG), a national lending source of mobile
home park financing, arranged a $850M to finance a 37-space mobile home and RV
park.
The client, who managed the park, came to TMG looking for a
loan to finance both the land and park owned homes. The park had 15 park owned mobile
homes and 9 park owned RV units. TMG was able to find a lender to finance the
land and park owned homes in one loan.
The borrower’s goals were to purchase the park and turn it
around to exceed a 15% ROI. TMG was able to help the borrower meet his goals by
arranging a financing solution that financed both the park and park owned units,
and provided max leverage of 70% with a 30-year amortization.
Location: Arizona
Property: Mobile Home
/ RV Park
Loan Amount: $850,000
Interest Rate: 5.89%
Term: 5yr term
Amortization: 30 Years
Prepayment: 3%, 2%, 1%,
1% ,1%
LTV: 70%
Recourse