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The Madison Group arranges a $1,957,500 loan to purchase 138-pad MHP in OK

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 Financin
Thursday, Jun 15, 2023
by Devin Wanzor

The Madison Group (TMG), a leading national lending source of mobile home park financing, arranged a $1,957,500 loan to purchase a 138-pad mobile home park in Oklahoma.

The borrower’s goals were to acquire this MHP then complete capital improvements, and infill with additional mobile homes. TMG was able to work with a lender that could not only finance the real estate, but also the park owned homes and future home purchases. In the end, the sponsors were happy with the leverage they received on this transaction as well as the ability to finance future home purchases to infill the park.

 

Property: MHP   

Location: Oklahoma

Loan Amount 1: $1,957,500

Loan Amount 2: $1,029,000

Interest Rate: 7.29%

Terms: 5 years

Amortization: 30 years

Prepayment: 3,2,1

Guarantee: Recourse



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