The Madison Group (TMG), a leading national lending source of
mobile home park financing nationwide, arranged a $2,500,000 loan to purchase a
mobile home park in Florida. The park had 103 lots and 26 park owned homes. The
sponsor was purchasing the park to infill the remaining empty lots with park
owned homes. The loan was structured with an earnout as well as a $1,000,000
loan to purchase mobile homes to infill the park.
Property: MHP
Location: Florida
LTV: 70%
Loan Amount: $2,500,000
Interest Rate: 8.96%
Term: 5 years
Amortization: 30 years
Prepayment: 3,2,1,
Guarantee: Recourse