Back to the full list of closings

news photo

The Madison Group arranges the financing for a $31.1MM purchase of three mobile home parks in Illinois.

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Commercial Loans, Cash Out Loans, Interest Only Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, Non Recourse Financing, Non Recourse Loans
Friday, Mar 04, 2022
by Angela Kesselman

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a $21M purchase money loan for a portfolio of parks in Illinois.  The borrowers needed to purchase the properties with a non-recourse bridge loan on a short timeline.  TMG secured the financing with a 3+1+1 year bridge loan with a rate of 4.1% interest only for the term. 

The property consisted of three parks with a total of 624 pads. All the parks are located outside of Chicago.  Each park had its own challenges with high numbers of park owned homes, abandoned homes that needed to be demolished, and one with a large number of vacant lots.

TMG overcame the challenges of each park by arranging a loan with a quick closing and flexible terms. The term of the loan will allow the clients to address each park’s challenges and the reserves will allow them to increase occupancy, remove any deferred maintenance, and make necessary improvements. The bridge loan was also secured with a competitive rate at 4.1%.

Location: Illinois

Loan amount: $21,000,000

Term: 3+1+1

Rate: 4.10%

Amortization: Full term I/O


The loan we provided will allow the buyers to stabilize and improve these properties while building substantial equity in these assets .” said Angela Kesselman, TMG’s Associate Director of Finance.

Full List of Recent Closings