Back to the full list of closings

news photo

The Madison Group Arranges $2,948,000 Nonrecourse Loan for a Mobile Home Park in MO

Friday, Nov 11, 2016
by Angela Kesselman
The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged the $2,948,000 nonrecourse refinance of a 167 pad mobile home park in Brookline Station, MO.  The borrower’s goals were to refinance a balloon note that was coming due and get a FNMA loan. TMG secured the financing with a 10 year fixed rate of 4.58% and a 30 year amortization at 75% LTV.

The loan team at TMG worked diligently with the borrower and lender to overcome some challenges regarding the property.  The occupancy of the park is 84%, and is increasing slowly. The economy in Springfield was impacted greatly during the economic downturn and is gradually getting stronger.  The park had some extraordinary utility expenses and leaking water lines which were affecting the cash flow.  The borrower repaired the water lines and TMG was able to use new expenses after two months of operations to increase the proceeds on this transaction.

TMG secured the optimal financing for the park by getting a waiver from FNMA for the occupancy.  The borrower was able to lock in at a low rate, before interest rates increased, and get maximum proceeds on a non-recourse loan. In addition, they obtained a more flexible prepayment penalty compared to the defeasance on their previous loan.

”We were able to put in place a great loan for this repeat client and by using our preferred lender to get the FNMA waiver which made the structure and funding possible,” said TMG’s Associate Director of Finance Angela Kesselman.

The financing was arranged by Angela Kesselman at The Madison Group.
The Madison Group ( is a commercial loan broker and consultant specializing in financing for investor properties nationwide. TMG provides flexible and reliable capital for real estate acquisitions, refinances, and re-capitalizations for a variety of property types including:  multifamily, mobile home parks, credit tenant NNN net lease, office, retail, industrial, self-storage and other commercial properties in the United States.  Established in 2001, The Madison Group’s intention is to provide highly competitive loan products through its superior capital market expertise and quality sources of capital.  TMG works efficiently and effectively to get the transaction closed and funded.
The Madison Group can be reached at 435-785-8350 or by emailing Angela at

Full List of Recent Closings