The Madison Group (TMG), a leading national lending source of RV
Park and self-storage financing, arranged a $3,900,000 loan to purchase an
existing RV park in Texas with 97 RV pads and 85 self-storage units. The borrower
was an experienced MHP/RV park operator and came to TMG looking for the best
financing terms at a 65% LTV.
TMG was able to work with a lender to provide 2-years of interest
only payments, a 5-year fixed rate of 6.58% and a 30 year amortization. The
lender was also able to lock in the interest rate at application, which helped
the client mitigate interest rate risk in a rising rate environment. The
clients were very pleased with their financing, and it was their first-time
having success with a commercial mortgage brokerage.
Property: RV Park
Location: Texas
Loan Amount: $3,900,000
LTC/LTV: 65%
Interest Rate: 5-year
fixed rate of 6.58% with 2 years of I/O
Term: 10 years
Amortization: 30 years
Prepayment: 3,2,1
Guarantee: Recourse