The Madison Group (TMG), a leading source of mobile home
park financing nationwide, arranged a $5.6 million nonrecourse loan to purchase
and expand a mobile home park in Louisiana. The Park consisted of 61 park owned
homes and an additional 30 mobile homes were being installed prior to closing. After
closing the client was purchasing and installing an additional 28 mobile homes.
The goal was to convert all park owned homes into tenant owned homes within
The Madison Group was able to arrange a 3-year interest only
bridge loan with (2) one year extension options. This loan structure was
perfect for the client, allowing them enough time to purchase, install, and
convert all park owned homes into tenant owned homes.
Loan Amount: $5,600,000
Interest Rate: 4.875% fixed for 3-years
Term: 3-years with (2) one year extension options
Prepayment: 1% if refinanced with another lender within the
first two years