The Madison Group (TMG), a leading national lending source of mobile
home park financing, arranged a $6 million bridge loan to refinance two mobile
home parks in Georgia.
The borrower’s goals were to obtain a bridge loan on both parks
with the goal to refinance at a lower rate once rates came down. TMG was able
to work with a lender that was able to meet the borrower’s financing goals. The
lender was able to provide a bridge loan at an acceptable rate with no
prepayment penalty and a 1% origination. TMG will be actively seeking a
refinance loan for the repeat client.
Property: Two MHP’s
Location: Georgia
LTC: 40%
Loan Amount: 6,000,000
Term: 5 years
Prepayment Penalty: None