The Madison Group (TMG), a leading national lending source of RV
Park financing, arranged a $5,775,000 loan to purchase a 243-pad park in
Arizona consisting of RV lots, Tenant owned mobile homes, and Park model homes.
The repeat client contacted TMG to obtain a loan for the purchase
of the RV resort. TMG was able to work with a trusted lender with experience in
RV resorts. The client came to us needing to close within 45 days and did not
have any extensions to the contract. The client was looking for interest only
to provide his team enough time to complete a park expansion on the excess 15
acres. Also, the client preferred no prepayment penalty with, given he plans to
sell the park in a few years. Lastly, the client was also looking for the best
rate possible. In the middle of the loan, rates dropped, and the lender was
gracious enough to reduce the rate. In the end the client was very pleased with
TMG and the lender. The client received all the needs he was looking for and
closed before the deadline.
Property: RV Park
Location: Arizona
Loan Amount: $5,775,000
LTV: 70%
Interest Rate: 6.85%
Term: 10yr – with 2 – 5yr fixed rate periods
Amortization: 25 yrs
Prepayment: No Prepayment if sold
Guarantee: Recourse