The Madison Group (TMG), a national leader in
manufactured housing community financing, has secured $8,112,000 to refinance
five mobile home communities located in South Carolina. The repeat clients
engaged TMG to refinance their maturing loans and obtain cash-out proceeds.
The borrowers sought non-recourse financing
with a 10-year fixed rate, 30-year amortization, and five years of
interest-only payments. The five communities, comprising a total of 225 pads, are
located in close proximity to one another. The clients acquired the properties
between 2019 and 2023 and completed significant renovations and expansions
across all locations.
TMG structured financing through a
non-recourse lender, using all five communities as collateral across three
separate loans to maximize cash-out proceeds. TMG’s expertise in the
manufactured housing sector and strong lender relationships ensured a smooth
closing process. The clients were pleased with the results and are actively
seeking their next acquisition.
Financing Summary
Property Type: Manufactured Housing Communities
Location: South Carolina
Total Loan Amount: $8,112,000
LTV: 70%
Interest Rate Range: 6.28%
Term: 10 Years
Amortization: 5 Years Interest Only, followed by 30-year
amortization
Prepayment Structure: 9.5-Year Yield Maintenance