The Madison Group (TMG), a leading national lending source of commercial
real estate financing, arranged a $1,873,430 loan for 585 acres in Texas. The clients
came to TMG requesting a high leverage land loan to purchase the land. The
client’s plan was to purchase the raw land and complete the permitting and
entitlement process for a mobile home park development.
TMG was able to work with a lender to provide a 70% loan to value
land loan which allowed the clients to put less money down than previous land
acquisitions they had completed.
Loan Amount: $1,873,430
Loan to value: 70%
Interest Rate: 2
years fixed at 7.75%
Term: 2-year term
Prepayment: No pre-payment penalty