The Madison
Group (TMG), a leading national lending source of RV Park financing, arranged a
$1,105,000 loan to refinance an RV Park and campground in Ohio.
The client recently
purchased the stabilized RV Park & Campground with all cash to capture the
property at a discounted price and close quickly. After closing the acquisition, the client
approached The Madison Group to recapitalize the property. The client’s objective was to refinance the
property at a reasonable LTV and DSCR to operate profitably and obtain cash out
to invest in other commercial real estate opportunities.
The Madison
Group was able to work with one of its trusted lenders to meet the client’s
objectives to fund and close the loan in a reasonable time frame. The client, lender, and TMG were able to work
closely together to make this transaction a smooth process.
Property: RV
Park & Campground
Location: Ohio
Loan Amount: $1,105,000
LTV: 65%
Interest Rate: 5yr
Fixed 7.59%
Term: 10 years
Amortization: 30
years
Prepayment: 3,2,1
Guarantee: Recourse