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TMG arranges a $1,251,390 loan for the purchase of an RV Park in TX

Tags: RV Park, RV Park Financing, RV Park Loans, Commercial Real Estate, Commercial Loans, Commercial Real Estate Loans, Purchase Financing, Nationwide Financing
Wednesday, Aug 10, 2022
by Paul Kuster

The Madison Group (TMG), a leading national lending source of RV Park financing, arranged the $1,251,390 loan for the purchase of a 65-Space RV Park in Texas. The final terms were a 15-year term, 12-months interest only, followed by a 30-year amortization, with a rate of 5.99%.

The park is on 17 acres which includes five acres to be developed into 34 additional spaces. The park has 2BR/2Bath single family residence that houses the on-site manager and an additional site-built building that has a laundry and showers.

The borrower’s goals were to purchase the RV Park and borrow an additional $200,000 for improvements to the park that would generate additional rental income.

TMG was able to help the borrower meet its goals by offering several financing solutions which included additional improvement funds that allowed the borrower to select the optimal financing solution that met the borrower’s priorities and investment strategy.

Location: Texas

Property: 65 Space RV Park

Loan Amount: $1,251,390

Interest Rate: 5.99%

Term: 15 Years

Amortization: 30 Years

Prepayment: Typical Early Unwind Rate Swap Provisions

LTV: 70%

Recourse: Full Recourse



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