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The Madison Group arranges a $2,485,000 loan to refinance a MHP/RVP in Texas

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, RVP Financing, RV Park Financing
Tuesday, Dec 19, 2023
by Kyle Losch

The Madison Group (TMG), a leading national lending source of mobile home park and RV park financing, arranged a $2,485,000 loan to refinance a 135-pad park in Texas. The park mostly consisted of long-term tenants, with some transient RV tenants. The park also had a small amount of storage units and a retail shop that were leased.  

The client purchased the park with a bridge loan due to their purchase agreement deadline. The client was looking for a 70% LTC/LTV loan with a 25-30 year amortization. TMG was able to work with a trusted lender that took the time to understand the different revenue streams and provide terms the client was seeking. The park was a nice addition to the client’s existing portfolio in that market and he was very happy to be able to purchase the property at $26K/pad.

Property:  Mobile Home Park / RV Park

Location: Texas

LTV: 70%

Loan Amount: $2,485,000

Interest Rate:  8.47%

Term: 12 years

Amortization: 30 years

Guarantee:  Recourse



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