The Madison Group (TMG), a leading national lending source of RV Park and MHP financing, arranged a $6,900,000 loan to refinance a RV Park/MHP in Florida. The client needed to refinance their current bridge loan and seller carry note due to them maturing.
TMG was able to work with a trusted lender that was able to take the time to understand the deal and close in about five weeks. The borrower now has time to fully stabilize the parks and refinance into conventional debt. TMG, the lender, and borrower worked hand-in-hand to ensure the loan closed prior to the debt maturing.
Property: RV Park and MHP
Location: Florida
Loan Amount: $6,900,000
Interest Rate: 10.75%
Term: 2 years
Guarantee: Recourse