The Madison
Group (TMG), a leading national lending source of RV Park financing, arranged a
$4,200,000 loan to refinance a 65-acre RV Resort in Texas.
The clients had
a stabilized RV Park with several existing loans in place and had recently
received planning approvals to add 53 RV pads to expand the park. The client’s objective was to obtain one loan
to refinance the existing loans and borrow additional funds to construct the
additional RV pads.
The Madison
Group was able to work with one of its trusted lenders to meet the client’s
objective to fund and close the loan in a reasonable time frame.
Property: RV Resort
Location: Texas
Loan Amount: $4,200,000
LTV: 40%
Interest Rate: 7.00%
Term: 5 Years
Amortization: 20 Years
Prepayment: 5,4,3,2,1
Guarantee: Recourse