The Madison Group
(TMG), a leading nationwide source for commercial real estate financing,
successfully arranged a $36,000,000 non-recourse loan to refinance a portfolio
of six five-star manufactured housing communities located across Alabama and
Georgia.
The portfolio
consists of approximately 850 homesites, with 80%+ operated as park-owned
homes. The sponsor manages the communities in a “horizontal apartment”
model—owning and leasing the majority of homes while maintaining the
high-quality standards expected of five-star properties.
The sponsor’s
objectives were to secure a cash-out refinance with non-recourse structure and
full-term interest-only payments. Through its extensive lender network, TMG
identified a capital partner willing to underwrite the loan based on lot rents
only, without imposing restrictive covenants on the sponsor’s home-ownership
operations.
Transaction
Highlights
- Property Type: Six Manufactured Housing
Communities
- Location: Alabama & Georgia
- Loan Amount: $36,000,000
- Term: 5 Years
- Amortization: Full-Term Interest Only
- Structure: Non-Recourse | Cash-Out
Refinance
The Madison Group
continues to be a trusted financing advisor for manufactured housing community
investors nationwide, providing access to CMBS, Fannie, Freddie, bank, credit
union, and private capital solutions.