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The Madison Group arranges a $5,775,000 loan to purchase an RV Park in Arizona.

Tags: RVP Financing, RV Park Loans, RVP Loans, Commercial Loans, Commercial Real Estate Loans, purchase loan, RV Park Financing, loans for RV parks, RV purchase loan, RV park expansion loan, RV park construction loan
Tuesday, Sep 03, 2024
by Brandi Link

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



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