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 (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 (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 (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 (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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