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The Madison Group arranges a $600,000 cash out refinance loan on a 17-pad MHP community in Connecticut.

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan, cash out refi, cash out refinance
Tuesday, Nov 07, 2023
by Kyle Losch

The Madison Group (TMG), a leading national lending source of mobile home park financing nationwide, arranged a cash out refinance loan of $600,000.

The borrowers purchased a distressed 17 pad mobile home park with only three tenants and worked to rehabilitate it, adding fourteen affordable housing units to the community. The Madison Group provided a cash out refinance to payoff bridge debt and recover their investment once stabilized. The cash out proceeds will be used to expand the client’s MHP portfolio.

 

Property:  MHP

Location: Connecticut  

Loan Amount: $600,000

Interest Rate:  9.48%

Term: 5 years

Amortization: 30 years

Prepayment: 5,4,3,2,1

Guarantee:  Recourse



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