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The Madison Group arranges a $2,600,000 loan to refinance an RV Park in California

Tags: RVP Financing, RV Park Loans, RVP Loans, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan
Tuesday, Sep 19, 2023
by Kyle Losch

The Madison Group (TMG), a leading national lending source of RV Park financing, arranged a $2,600,000 loan to refinance a 142 space RV park in California. The client purchased the park in 2021 and improved the park over the last three years. The client came to TMG looking to refinance the current loan with 30-year amortization conventional loan.

TMG was able to work with a trusted lender that could do a rate/term refinance with a 30-year amortization. The lender was able to lock the interest rate at the time of application to mitigant the client’s interest rate risk. TMG, the lender, and the client worked together to ensure a smooth closing process. The client was very happy with the loan structure that was provided.

 

Property:  RV Park

Location: California

Loan Amount: $2,600,000

LTC/LTV: 70%

Interest Rate:  5yr Fixed Rate - 7.52%

Term: 10 years

Amortization: 30 years

Prepayment: 3,2,1  

Guarantee:  Recourse

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The Madison Group arranges a $2,625,000 agency refinance loan on multi-family property in Utah.

Tags: Multifamily, Multifamily Financing, Multifamily Loans, Multifamily Refinance, Commercial Loans, CRE Financing, Commercial Real Estate Loans, non-recourse financing, Cash Out, Cash Out Refi, Cash Out Refinance, Nationwide Financing
Tuesday, Sep 12, 2023
by Brandi Link

The Madison Group (TMG), a leading national lending source of multi-family financing, arranged a $2,625,000 nonrecourse refinance loan for a multi-family property located in Utah.

The returning client requested TMG to arrange a refinance loan to pay off his construction lender and two additional LOCs from expanding the property. The client requested long-term financing, so he did not have to refinance the loan again. TMG and the client started the process early with the lender, so everyone was ready once the property met the occupancy requirements. It was a team effort and required a lot of attention to detail by all involved. TMG worked diligently with the lender to satisfy the client’s needs. In the end the borrower was very pleased with their interest rate and terms.

Property:  Multi-family

Location: Utah  

Loan Amount: $2,625,000

Interest Rate:  6.98%

Term:  25 years

Amortization:   30-Years

Prepayment:  Yield Maintenance

Nonrecourse

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The Madison Group arranges a $1,575,000 loan to purchase a RV Park in Texas

Tags: RVP Financing, RV Park Loans, RVP Loans, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, Purchase Financing, Nationwide Financing, TX Financing
Thursday, Aug 24, 2023
by Paul Kuster

The Madison Group (TMG), a leading national lending source of RV Park financing, arranged a $1,575,000 loan to purchase an existing RV Park in Texas with 99 RV pads. The borrower was an experienced RV park owner/operator and came to TMG with the goal of obtaining the best financing terms at 70% LTC/LTV.

TMG was able to work with one of its lenders to meet the borrower’s financing goals with loan terms of a 6.75% interest rate, 70% LTV/LTC, and a 30-year amortization. The lender was also able to lock in the interest rate at application which helped the client mitigate interest rate risk in a rising rate environment. TMG, the borrower, and the lender diligently worked together to close the loan within the rate lock period.

Property: RV Park

Location: Texas

Loan Amount: $1,575,000

LTC/LTV: 70%

Interest Rate: 6.75%

Term: 10 years

Amortization: 30 years

Prepayment: 3,2,1

Guarantee: Recourse

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The Madison Group arranges a $7,402,500 loan to purchase and expand two RV Parks in Utah

Tags: RVP Financing, RV Park Loans, RVP Loans, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, Purchase Financing, Expansion Financing, Nationwide Financing
Wednesday, Aug 16, 2023
by Paul Kuster

The Madison Group (TMG), a leading national lending source of RV Park and campground financing, arranged a $7,402,500 loan to purchase two RV Parks in Utah and fund improvements. One RV Park consisted of seven rental units and one RV pad. The other RV park had 38 rental units and 49 RV pads.

The borrower’s goals were to obtain one loan to purchase both RV parks and fund expansion at one of the parks. An additional goal was to have release provisions in the loan terms, in case one of the properties was sold.

TMG was able to work with a lender that was able to meet the borrower’s financing goals. The lender, borrower, TMG, and title company worked together to ensure a smooth and quick closing while the borrower was traveling.

Property: Two RV Parks

Location: Utah

LTC: 75%

Loan Amount: $7,402,500

Interest Rate: 5yr fixed rate – 7.65%

Term: 15 years (5+5+5)

Amortization: 25 years with a 15-year call

Prepayment Penalty: Declining 3 Year (3%, 2%, 1%)

Guarantee: Recourse

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The Madison Group arranges a $5,620,000 loan to refinance and expand an RV Park in Texas

Tags: RVP Financing, RV Park Loans, RVP Loans, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan
Wednesday, Aug 09, 2023
by Paul Kuster

The Madison Group (TMG), a leading national lending source of RV Park and campground financing, arranged a $5,620,000 loan to refinance an RV Park in Texas and fund a 63-pad expansion. The RV Park consisted of 65-pads and was currently undergoing an expansion of an additional 63 pads, along with adding a second laundry facility. The borrower’s goals were to refinance the existing bridge loan, fund the remaining expansion, and pay off some ancillary debt.

TMG was able to work with a lender that was able to provide financing despite the 63-pad expansion already being underway. The lender, borrower, and TMG worked together to ensure a smooth and quick closing so the borrower could continue his expansion process.

Property:  RV Park

Location: Texas

LTV As Complete: 70%

Loan Amount: $5,620,000

Interest Rate: 8.75%

Term: 3 years – Interest only

Amortization: 25 years if one year extension is exercised

Prepayment: 3% if paid during year 1 and 1% if repaid during months 13-21

Guarantee: Recourse

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