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The Madison Group arranges a $4,545,000 cash out refinance loan on a 215-pad MHP in Arizona

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan, cash out refi, cash out refinance
Tuesday, Jun 06, 2023
by Brandi Link

The Madison Group (TMG), a leading source of mobile home park financing nationwide, arranged a cash out refinance loan of $4,545,000 on a 215-pad community in Arizona. A previous client approached TMG looking for a cash out refinance that was maturing soon on his existing park comprised of mobile homes, RVs, and park model homes.  

TMG worked with a lender that was able to get comfortable with the cash out proceeds needed and that was able to hold the 5.65% rate until closing. The rate lock was crucial given rates increased about 40 basis points throughout the loan process. 

 

Property:  MHP

Location: Arizona

LTV: 54%

Loan Amount: $4,545,000

Interest Rate:  5.65%

Term: 10 Year

Amortization: 25 Year

Prepayment: 3,2,1

Guarantee:  Recourse

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The Madison Group arranges a $1,933,234 loan to refinance a car wash and lube center in Texas

Tags: Commercial Financing, Car Wash Loans, Long Term Conventional Loans, Nationwide Financing, Texas Financing
Friday, Jun 02, 2023
by Brandi Link

The Madison Group (TMG), a leading national lending source of commercial financing, arranged a $1,933,234 loan to refinance a car wash and lube center in Houston, TX.

 

The borrower’s goals were to refinance their SBA 7a loan which had adjusted to a very high interest rate and into a conventional financing loan with a lower rate. The borrower was very pleased with their new loan terms.

 

Property: Car Wash  

Location: Houston, Texas

Loan Amount: $1,933,234

Interest Rate: 8.25%

Terms: 5 years

Amortization: 20 years

Prepayment: 3, 2, 1

Guarantee: Recourse

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The Madison Group arranges a $1,873,430 loan to purchase raw land in Texas

Tags: Land Purchase Loans, Commercial Financing, Nationwide Financing, Construction Loans, Development Financing
Wednesday, May 24, 2023
by Paul Kuster

The Madison Group (TMG), a leading national lending source of commercial real estate financing, arranged a $1,873,430 loan for 585 acres in Texas. The clients came to TMG requesting a high leverage land loan to purchase the land. The client’s plan was to purchase the raw land and complete the permitting and entitlement process for a mobile home park development.

TMG was able to work with a lender to provide a 70% loan to value land loan which allowed the clients to put less money down than previous land acquisitions they had completed.

 

Property:  Land

Location: Texas

Loan Amount: $1,873,430

Loan to value: 70%

Interest Rate:  2 years fixed at 7.75%

Term:  2-year term

Amortization:   25-Years

Prepayment: No pre-payment penalty 

Guarantee:  Recourse

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The Madison Group arranges a $1,650,000 loan to purchase an Inn in Oregon

Tags: Commercial Loan, Commercial Real Estate, Commercial Real Estate Financing, Hospitality, Hospitality Financing, Hotel Loans, Hotel Financing
Tuesday, May 02, 2023
by Jared Shupe

The Madison Group (TMG), a leading national lending source of hospitality financing, arranged a $1,650,000 loan to purchase an inn in Oregon.

The borrower had unique financing goals and required a non-recourse structure to close the transaction.  The Madison Group sourced a regional bank to finance the deal, worked closely with borrower and bank to close under tight closing timelines. 

 

Property: Hospitality

Location: Oregon

Loan Amount: $1,650,000

Interest Rate: 5 YR. TCM + 2.75%; 6.50% at Closing

Terms: 5 year maturity; 6 mos. I/O

LTC: 52%

Amortization: 25 years

Prepayment:  5, 4, 3, 2, 1

Guarantee: Non-Recourse

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The Madison Group arranges a $1,875,000 cash out refinance loan on a 55-pad MHP community in central Florida

Tags: MHC Financing, MHP Financing, MHC Loans, MHP Loans, Mobile Home Park Loans, Mobile Home Park Financing, Mobile Home Park Lender, Commercial Loans, Commercial Real Estate Loans, Multi-family Loans, Multi-family Financing, refinance loan, cash out refi, cash out refinance
Wednesday, Mar 29, 2023
by Jared Shupe

The Madison Group (TMG), a leading national lending source of mobile home park financing nationwide, arranged a cash out refinance loan of $1,875,000 on a 55-pad community in Florida. The borrower approached TMG looking for a cash out refinance on his existing 100% occupied MHP. His primary goal was to refinance his current debt and eliminate his yield maintenance pre-payment penalty with his current lender, which the current rate market allowed him to do.

TMG worked with a credit union that could finance the MHP and provide a loan without a prepayment penalty. The credit union also locked the sponsor’s rate for 60 days, which was crucial given rates increased by about 0.50% from time of lock to close. The sponsor, lender, and TMG worked collectively to ensure the loan closed within the 60 day rate lock period. In the end, the sponsor was able to obtain a cash out refinance with a loan that has no prepayment penalty allowing him ultimate flexibility when rates lower.

Property: MHP

Location: Florida

LTV: 67.7%

Loan Amount: $1,875,000

Interest Rate: 6.375%

Term: 10 Years

Amortization: 30 Year

Prepayment: None

Guarantee: Recourse

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