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The Madison Group arranges a $4,500,000 construction loan for a manufactured housing community in Georgia.

Tags: Mobile Home Parks, Mobile Home Park Financing, Mobile Home Park Lending, Mobile Home Park Loan, Mobile Home Community Loan, Mobile Home Community Financing, Mobile Home Park Refinance, Mobile Home Community Refinance, Financing for Mobile Home Park, Loan for Mobile Home Park, MHP Financing, MHC Financing, RV Park Financing, RV Park Lender, RV Park Loan, RV Park Mortgage, Manufactured Housing Community Financing.
Tuesday, Jul 02, 2024
by Kyle Losch

The Madison Group (TMG), a leading national lending source of manufactured housing community financing, arranged a $4,500,000 loan to construct a new 204 pad park in Georgia.   

The borrower’s goals were to obtain a construction loan to rebuild a park that was previously destroyed by a tornado. The brand-new manufactured housing community will consist of 204 brand new homes. TMG worked with the repeat client and lender to arrange a construction loan to meet the borrower’s construction needs. The borrower has already infilled and rented 60 homes and is infilling additional homes. The park is expected to be fully completed and stabilized by the end of 2024.

 

Property:  MHC

Location: Georgia

Rate:  8.09%

LTC: 70%

Loan Amount: 4,500,000

Construction Period: 24 months

Prepayment Penalty: None

Amortization: 15 years



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