The Madison Group (TMG), a leading national lending source
of Mobile Home Park financing nationwide, arranged the $1,225,000 loan for the
purchase of an RV Park in California.
The buyer had a short due diligence period and a hard
deadline for closing. They also wanted
the best available rate and max available loan proceeds for this asset class. TMG
was able to secure the loan with a specialty lender that was comfortable with
the collateral type. Some challenges to the financing included the property
being located in a flood zone, sellers with financials that were difficult to
analyze, and both long/short term RV and mobile home rents. TMG was able to get the client a loan with a good
rate and a 30-year amortization which maximized cash flow long term on this
property.
Location: California
Property: RV &
Mobile Home Park
Loan Amount: $1,225,000
Interest Rate: 5.0 %
Term: 10 Years
Amortization: 30 Years
Prepayment: 3%/2%/1%
LTV: 71.4%