The Madison Group (TMG), a leading national lending source of RV
Park financing, arranged a $2,000,000 loan to refinance an RV Park with
adjacent RV & Boat Self Storage in Texas.
The clients had a stabilized RV Park with a current permanent loan
and had just completed developing the adjacent land into an RV & Boat Self
Storage facility using a construction-to-perm loan. The client’s objective was to refinance both
loans into one permanent loan at a lower interest rate and longer amortization
period.
TMG was able to work with one of its trusted lenders that saw
potential in this RVP & RV/Boat Self Storage combo based on its excellent
location and growing demand in the market.
The lender provided a single loan that met the client’s objectives, which
reduced the client’s total monthly payment by $10,000 per month.
The clients were so pleased with the refinance transaction that
they stated “Truly, the thanks go out to all of you at TMG. We are extremely
grateful that you made this happen. Hands
down, this has been the smoothest loan process we have ever experienced”.
Property: RV Park & RV/Boat Self Storage
Location: Texas
Loan Amount: $2,000,000
LTV: 65%
Interest Rate: 7.25%
Term: 5 years
Amortization: 25 years
Prepayment: 3,3,2,1
Guarantee: Recourse