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The Madison Group arranged a $14,500,000 loan to refinance and provide cash out on a mobile home park in Utah.

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, refinance loan, cash out refi, cash out refinance, no prepayment penalty, no prepayment penalty loan
Monday, Jul 18, 2022
by Jeff Meierhofer

The Madison Group (TMG), a national lending source of mobile home park financing, arranged a $14.5MM loan to refinance and provide cash out on a 215-space mobile home park.

The repeat client came to TMG looking to unwind and refinance their existing SWAP loan, as well as obtain cash out. The client wanted a 30-year amortization with a low fixed rate. It was important to the client that TMG find a lender that locked the interest rate at application given the rising rate environment.

TMG delivered by arranging a $14.5MM loan with a 30-year amortization, no prepayment penalty, and a 4.5% 7-year fixed rate locked in at application. After two appraisals and a rate lock extension fee, the team was able to close the transaction at the quoted rate of 4.5%.

Location:  Utah

Property:  Mobile Home Park

Loan Amount:  $14,500,000

Interest Rate:  4.50% - 7 year fixed

Term:   10yr term

Amortization:   30 Years

Prepayment:  No prepayment

LTV:   65%


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