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The Madison Group arranges a $2,900,000 construction loan to build an RV Park in Texas.

Tags: RV Park Loans, RVP Loans, RVP Construction Loans, RV Park Construction Loans, Interest Only Loans, Interest Only Construction Loans, No Pre Payment Penalty Loans, No Prepayment Penalty Loans, RV Park Financing, RVP Financing, RV Construction Loans, Bridge Lenders, Construction Lenders, Commercial Mortgage Brokerage, Commercial Mortgage Brokers.
Friday, May 31, 2024
by Paul Kuster

The Madison Group (TMG), a leading national lending source of RV Park financing, arranged a $2,900,000 construction loan to build an RV Park.  The park includes 128 RV pads, 5 rental cabins, and a clubhouse with locker rooms, laundry, and mail room.  Other amenities include a putting green, picnic areas, dog wash, community garden, and guest parking.

The borrower had raised the equity for the development.  The borrower’s goal was to obtain a construction loan at 70% loan to cost to build the RV Park.  TMG was able to work with a lender that was able to meet the borrower’s financial goals.  The lender, borrower, and TMG worked diligently together to close and fund the transaction.

 

Property:  RV Park

Location: Texas

Loan Amount: $2,900,000

LTC: 70%

Interest Rate:  13%

Term: 2.5 Years

Amortization: Interest Only

Prepayment: None

Guarantee:  Full Recourse



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