Back to the full list of closings

news photo

The Madison Group arranges a $7,402,500 loan to purchase and expand two RV Parks in Utah

Tags: RVP Financing, RV Park Loans, RVP Loans, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, Purchase Financing, Expansion Financing, Nationwide Financing
Wednesday, Aug 16, 2023
by Paul Kuster

The Madison Group (TMG), a leading national lending source of RV Park and campground financing, arranged a $7,402,500 loan to purchase two RV Parks in Utah and fund improvements. One RV Park consisted of seven rental units and one RV pad. The other RV park had 38 rental units and 49 RV pads.

The borrower’s goals were to obtain one loan to purchase both RV parks and fund expansion at one of the parks. An additional goal was to have release provisions in the loan terms, in case one of the properties was sold.

TMG was able to work with a lender that was able to meet the borrower’s financing goals. The lender, borrower, TMG, and title company worked together to ensure a smooth and quick closing while the borrower was traveling.

Property: Two RV Parks

Location: Utah

LTC: 75%

Loan Amount: $7,402,500

Interest Rate: 5yr fixed rate – 7.65%

Term: 15 years (5+5+5)

Amortization: 25 years with a 15-year call

Prepayment Penalty: Declining 3 Year (3%, 2%, 1%)

Guarantee: Recourse



Full List of Recent Closings