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RV Park Financing

TMG Arranged the $1.9MM Bridge Loan for a RV Park in Florida

Tags: RV Park Financing, RV Park loans, Bridge Loans, Multifamily Financing
Tuesday, Jun 01, 2021
by Jared Shupe

Summary:  The Madison Group (TMG), a leading national lending source for recreational vehicle (RV) parks, arranged the $1,900,000 Bridge Loan for an 147 pad, 21 acre RV Park in South Florida. 

The borrower was seeking a quick refinance of existing seller carry back debt to allow them to free up funds to capitalize on the purchase another portfolio of RV parks in the region.  The primary need for the loan was it had to close quickly.  The Madison Group matched the borrower’s time and need with a lender that was able to perform on a short term bridge basis to accomplish the goals of the project.  TMG with its processing and closing department assisted the borrower and the lender in gathering all information necessary, completing 3rd party reports, and negotiating a deal that was a win for all parties. 

Location:  Florida

Property:  147 pad RV Park

Loan Amount: $1,900,000

Interest Rate:  12%

Term:   1 Year with two 6 month extension options

Amortization:   Interest Only

Prepayment: None 

LTV:   54%

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