Back to the full list of closings

news photo

TMG arranged the $3,300,000 purchase of an RV Park in Utah

Tags: RV Park Financing, Commercial Financing, RV Park Loans
Wednesday, Dec 30, 2020
by Brandi Link

Summary:  The Madison Group (TMG), a leading national lending source of RV Park financing, arranged the $3,300,000 purchase of an RV Park in Utah. The final loan terms were a rate of 4.45%, with a 10-year fixed rate term and 30- year amortization.

The client’s goals were met by providing a cash out loan to buy out the partners. The borrowing entity   owned the park over 20 years and created a great deal of equity. The park is owned free and clear, so it was necessary to structure a maximum cash out loan to pay off the other partners. The park is currently managed by one of the owners who remained as the sole owner. TMG obtained financing that allowed the manager/owner to become the owner of the RV Park without partners.

TMG negotiated the best loan terms with a quality lender and assisted the borrower during the loan process. There were some legal circumstances that needed mitigation regarding the borrowing entity but TMG worked with the lender and underwriting to get the loan closed in a timely manner. The rate is low and provides excellent cash flow. The borrower is pleased with the process, the professionalism of the lender, and overall execution of the transaction.   

Location:  Utah

Property: RV Park

Loan Amount: $3,300,000

Interest Rate: 4.45%

Term:  10 Years

Amortization:  30 Years

Prepayment: None

Full List of Recent Closings