Back to the full list of closings

news photo

The Madison Group arranged a $850M loan for a mobile home /RV park purchase in Arizona

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, RV Park Financing, RV Park Loans, RV Park Lender
Monday, Jun 06, 2022
by Kyle Losch

The Madison Group (TMG), a national lending source of mobile home park financing, arranged a $850M to finance a 37-space mobile home and RV park.

The client, who managed the park, came to TMG looking for a loan to finance both the land and park owned homes. The park had 15 park owned mobile homes and 9 park owned RV units. TMG was able to find a lender to finance the land and park owned homes in one loan.

The borrower’s goals were to purchase the park and turn it around to exceed a 15% ROI. TMG was able to help the borrower meet his goals by arranging a financing solution that financed both the park and park owned units, and provided max leverage of 70% with a 30-year amortization.

Location:  Arizona

Property:  Mobile Home / RV Park

Loan Amount:  $850,000

Interest Rate:  5.89%

Term:   5yr term

Amortization:   30 Years

Prepayment:  3%, 2%, 1%, 1% ,1%

LTV:   70%

Recourse



Full List of Recent Closings