Summary: The Madison
Group (TMG), a leading national lending source of Mobile and RV Park financing,
arranged the $1,550,000 cash out refinance of an RV park in Southern Utah.
The borrower’s goals were to get a good long-term rate and
cash out of a park that they have owned and operated for several years
now. The park is well located near
several of Utah’s National Parks. They
are using the cash to buy two other well located parks in the state.
TMG was able to get a significant amount of cash out of the
property to purchase the two other properties.
In addition, the amortization of the new loan is 25 years and the long-term
fixed rate at 4%. The rate and am are
significantly lower than the existing debt in place, which provides good cash
flow, even with the cash out.
Property: RV Park
Loan Amount: $ 1,550,000
Interest Rate: 4%
Term: 10 Years
Amortization: 25 Years