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The Madison Group arranges a $3,600,000 nonrecourse loan to refinance an open RV storage facility in Idaho

Tags: RV Park Financing, MHC Loans, MHP Loans, RVP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, Non-Recourse Financing, Refinance Loans, Nationwide Financing, Idaho Financing, Self-Storage Financing
Tuesday, Dec 20, 2022
by Robert Chase

The Madison Group (TMG), a leading national source for RV and self-storage financing, arranged a nonrecourse loan to refinance an open RV storage facility in Idaho. The client contacted TMG seeking a nonrecourse loan for a challenging property type. TMG sourced a balance sheet lender that would provide 50% nonrecourse financing.

 

The lender, TMG, and borrower worked closely together, and the lender’s chief credit officer joined the introductory call, which provided confidence that the lender would ultimately deliver terms in line with the LOI. Despite being a challenging property to secure financing on, the lender executed, and the client was happy with the loan.

Loan Amount:  $3,600,000


Loan To Value:  50%

Interest Rate:  6.80%

Term:  5 Years

Amortization:  25 Years

Recourse: None



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