The Madison Group (TMG), a leading national lending source for
mobile home communities arranged a $2,562,000 agency loan to purchase a 74
unit mobile home park in Iowa. The borrower located The Madison Group
through an internet search of leading mobile home park financing sources as
they had very specific needs for the financing of the park. After a conversation with the borrower, The
Madison Group was able to provide a non-recourse agency option for the park
that the borrower didn’t believe existed or could be done. Through diligent efforts and tremendous
professionalism from the borrower, and unmatched capability and efficiency from
one of The Madison Groups preferred agency lenders, the loan closed on time and
with the exact terms proposed.
Location: Des Moines,
IL
Property: 74 Site
Mobile Home Park
Loan Amount: $2,562,000
Interest Rate: 5.33%
Term: 10 Years
Amortization: 30 Years
Prepayment: 5%, 5%, 4%, 4%, 3%, 3% 2%, 2% 1%, 1% in years
1-10
LTV: 75%