The Madison Group (TMG), a leading national lending source of mobile
home park financing, arranged a $1,800,000 acquisition bridge loan to purchase
a 391-pad distressed mobile home park in Michigan.
The borrower’s goals were to obtain an acquisition loan to
purchase a mobile home park that was in a distressed and mismanaged condition with
low occupancy. Despite the mismanagement, this park had significant upside. The
sponsors have approximately $1MM in immediate improvements and plan on creating
a better lifestyle for the current and future tenants.
The sponsors contacted TMG and needed to close quickly. TMG worked
with a lender that was able to provide a bridge loan in a timely manner.
Although there were some hurtles, the loan was closed, and the client was happy
with the loan terms they received. Once the park improvements are completed,
the park will be a great mobile home park to live in. TMG looks forward to
working with the Client to refinance the park in the next 24 months.
Property: MHP
Location: Michigan
LTV: 45%
Loan Amount: $1,800,000
Term: 2-year + 1 year
extension
Rate: 10.5%
Prepayment Penalty: None
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The Madison Group (TMG), a leading national source of
hospitality financing, arranged a $9,300,000 SBA 504 purchase loan for the
acquisition of an 88 room hotel near the Phoenix, Arizona international
airport.
As an experienced operator and owner of hotels, the borrower
was seeking the best the market had to offer for hospitality acquisition
financing. Understanding the difficult
hospitality market since the pandemic restricted travel, they wanted to
understand the broader market beyond their existing relationships. The Madison Group was able to source an SBA
504 structure with excellent partners who worked diligently to meet closing
deadlines through the holiday months.
Despite various hurdles throughout he process The Madison Group,
Borrower, Lender, and CDC worked lockstep to work to a successful closing.
Property: Hotel
Location: Arizona
Loan Amount: ~$9,300,000
Interest Rate: 7.75%
Term: 10 years
Amortization: 25 years
Prepayment: None
Guarantee: Recourse
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The Madison Group (TMG), a leading national source of self-storage
financing, arranged a $1,200,000 loan to acquire a 189-unit self-storage
facility in upstate New York.
This loan was a referral from one of our residential
partners with a group of investors poised to acquire properties
nationwide. Based out of the west, the
investment group needed a nationwide lender that would reach to New York but
that could also handle future acquisitions in various locations throughout the
country. The Madison Group found and
introduced a lender that worked quickly and efficiently to close the subject
property, and a relationship was built to do future business.
Property: Self-Storage
Location: New York
Loan Amount: $1,172,500
Interest Rate: 7.75%
Term: 10 years
Amortization: 30 years
Prepayment: None
Guarantee: Recourse
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The Madison Group (TMG), a leading national source of
student housing financing, arranged a $935,000 loan for the acquisition of a 34-bed
student housing facility in Pennsylvania.
As an experienced operator and owner of student housing
facilities, the borrower came to The Madison Group to source financing that
would accommodate the required economics and investment strategy of this
property. The main priorities of the
borrower were an interest only period and no prepayment penalty. The Madison Group sourced a 65% LTC loan with
3 years interest only upon inception with no prepayment penalty. Borrower, lender and The Madison Group worked
lockstep through underwriting and closing to achieve a successful
purchase.
Property: Student Housing
Location: Pennsylvania
Loan Amount: $935,000
Interest Rate: 7.625%
Term: 10 years
Amortization: 30 years; Initial three years interest only.
Prepayment: None
Guarantee: Full Recourse
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The Madison Group (TMG), a leading national lending source of mobile
home park financing, arranged a $6 million bridge loan to refinance two mobile
home parks in Georgia.
The borrower’s goals were to obtain a bridge loan on both parks
with the goal to refinance at a lower rate once rates came down. TMG was able
to work with a lender that was able to meet the borrower’s financing goals. The
lender was able to provide a bridge loan at an acceptable rate with no
prepayment penalty and a 1% origination. TMG will be actively seeking a
refinance loan for the repeat client.
Property: Two MHP’s
Location: Georgia
LTC: 40%
Loan Amount: 6,000,000
Term: 5 years
Prepayment Penalty: None
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