Press Release: The Madison Group closes a $1.15M loan for purchase of MHP in Texas

The Madison Group (TMG), a commercial broker and loan consultant, has facilitated the financing for a 129 pad MHP in a rural location between Houston and San Antonio Texas. The borrower’s goals for the transaction were to bring in a group of investors to the transaction and enjoy the potential upside and increased income over time. The complication that made most lenders shy away from the transaction was that the property’s location and high vacancy rate. The borrower desired a loan with a 25 year amortization to be able to achieve the cash flow necessary for the investors. Making this an even more difficult transaction, the property had transient oil workers which made the income fluctuate. “The special needs of this transaction meant digging in deep by our staff, but we were able to facilitate the most favorable terms to meet the clients goals, said Jeff Meierhofer of The Madison Group, who originated the financing. “The borrowing group needs the ability to take the time necessary to fill the park to a higher occupancy create cash flow. We were able to find the right loan program for this rural park and get the borrower’s a loan that closed. TMG was able to source the transaction to meet the borrower financial goals and provided him with a 75% LTV loan with a five year term and 25 year amortization fixed at 5.5%. The loan has a declining prepay and has adjustments in years five through 25 but does not require a payment. The financing was arranged by Jeff Meierhofer at The Madison Group. The Madison Group (www.madisongroupfunding.com) is a commercial loan broker and consultant specializing in financing for investor properties nationwide. TMG provides flexible and reliable capital for real estate acquisitions, refinances, and re-capitalizations for a variety of property types including: multifamily, mobile home parks, credit tenant NNN net lease, office, retail, industrial, self-storage and other commercial properties in the United States. Established in 2001, The Madison Group’s intention is to provide highly competitive loan products through its superior capital market expertise and quality sources of capital. TMG works efficiently and effectively to get the transaction closed and funded. The Madison Group and Jeff can be reached at 435-785-8350 or by emailing Jeff at Jeff.M@madisongroupfunding.com.