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The Madison Group (TMG), a leading nationwide source for RV park and campground financing, is pleased to announce the successful closing of a $1,375,000 refinance for an RV park in Tennessee.
TMG secured the financing at a 6.75% interest rate, with a 5-year term and 25-year amortization schedule. The transaction presented a significant challenge late in the financing process when the original lender attempted to retrade the agreed-upon interest rate by approximately 200 basis points. Rather than accept materially less favorable terms for the sponsor, TMG quickly pivoted to its extensive network of capital sources and identified an alternative lender capable of meeting the sponsor’s objectives.
Despite the late-stage change in lenders, TMG successfully closed the new loan within approximately 30 days. More importantly, the final financing ultimately provided the sponsor with better terms than those offered by the original lender prior to its retrade.
The successful closing demonstrates TMG’s ability to navigate complex financing challenges while maintaining deal certainty in a changing lending environment. Comprised of former commercial bankers, The Madison Group combines extensive lending experience with a nationwide network of capital sources to structure competitive financing solutions for commercial real estate owners and investors.
Financing Summary
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