The Madison Group (TMG), a premier national lender specializing in mobile home park financing, facilitated a $2,100,000 loan to refinance two mobile home parks (MHPs) in Alabama. Initially, the borrower sought financing for only one of the two properties under ownership. However, through collaborative discussions and careful analysis, TMG was able to present a comprehensive financing solution that combined both parks into a single loan. This structure not only satisfied the borrower’s existing debt obligations but also provided additional cash-out funds.
By consolidating the financing for both properties, TMG was able to secure more favorable terms, leveraging economies of scale to improve the overall loan conditions. The transaction closed on time, with all parties—TMG, the borrower, and the lender—working seamlessly to ensure an efficient and smooth process.
Property: Mobile Home Communities
Location: Alabama
LTV: 75%
Interest Rate: 7.91%
Loan Amount: $2,100,000
Term: 5 years
Amortization: 30 years
Prepayment Penalty: 3,2,2,1,1