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Recent Mobile Home Park Loans that we have helped fund:
54 Pad Mobile Home
Park, St. Petersburg, FL
Property Details: Combination of mobile home sites and
small bungalow apartments
Challenges: High density of “park-owned” homes and poor
property condition. Stated-income borrower
Solution: Financing structured based on 85% of the
appraised value of the real estate. Worked with the seller to
provide secondary financing tied to the existing trailers
92 Pad Mobile Home Park, Wetumpka, AL
Property Details:
Existing older mobile home park in a rural location
Challenges:
1031 exchange funds utilized to purchase park and timing was very
short to complete transaction.
Solution: Met
borrower’s timing on 1031 deadline and provided a lower interest
rate than quoted originally.
27 Pad Mobile Home Park, Port Richey, FL
Property Details:
Older mobile home park with 5 cottages.
Challenges:
Poor condition and a high density of park-owned homes
Solution:
Funded 85% LTV loan and worked with the seller to structure
secondary financing tied to the existing trailers.
28 Pad Mobile Home Park, Tampa, FL
Property Details:
Older 28-pad mobile home park, 1 single-family residence, and 3
apartments
Challenges:
Limited operating history and high density of park-owned homes
Solution:
Funded 85% of the value of the real estate . Worked with the
seller to structure secondary financing tied to the existing
trailers
14 Pad Mobile Home Park, Orlando, FL
Property Details:
Small older mobile home park
Challenges: All
park-owned homes and poor property condition
Solution:
Funded 90% of the value of the real estate and worked with the
seller to hold secondary financing tied to the trailers
114 Pad Mobile Home Park, Hazelhurst, GA
Property Details:
Rural mobile home park
Challenges:
Very low occupancy, low pad rents and ownership seasoned less than
one year
Solution:
Refinanced at 85% LTV
52 Pad Mobile Home Park, Lumberton, NC
Property Details:
Rural mobile home park
Challenges: Low
occupancy rate and high density of park-owned homes
Solution:
Funded a CLTV of 90% of the real estate value. Worked with the
seller to adjust the purchase price and hold secondary financing
54 Pad Mobile Home Park, Newport News, VA
Property Details:
54 Pad existing older mobile home park
Challenges: Low
borrower credit scores and stated-income borrower. Back taxes
due on property
Solution:
Funded 75% LTV refinance
25 Pad Mobile Home Park, Augusta, GA
Property Details:
Older existing mobile home park
Challenges:
Short time frame to close. Local bank backed out at the end of
the due diligence period.
Solution:
Closed quickly and funded 90% of the purchase price
100 Pad Mobile Home Park, Oklahoma City, OK
Property Details:
100 Pad existing mobile home park
Challenges:
Approximately 65% occupied. High density of park-owned homes
Solution:
Financed 75% of the purchase price and closed quickly. The
trailers were included in the park purchase price and the appraisal
was high enough on the park to cover the cost of the trailers.
22 Pad Mobile Home Park, New Smyrna
Beach, FL
Property Details:
Older 22 pad mobile home park with one single-family residence
Challenges:
High density of park-owned homes and 1031 Exchange funds used for
equity requirement
Solution:
Provided financing to acquire the park and the appraised value of
the real estate covered the acquisition of the park-owned homes.
17 Pad Mobile Home Park, Amarillo, TX
Property Details:
Existing 17 pad mobile home park
Challenges:
High density of park-owned homes
Solution:
Provided 90% CLTV financing and covered the cost of the park and the
park-owned homes
108 Pad Mobile Home
Park, Elgin, SC
Property Details:
Older 108 pad mobile home park
Challenges:
High density of park owned homes. Poor property condition.
Solution:
Funded 90% LTV based on the appraisal of the real estate.
Worked with the seller to hold secondary financing tied to the
existing park-owned homes.
72 Pad Mobile Home Park, Gibsonton, FL
Property Details:
Existing 72 pad mobile home park
Challenges:
100% park-owned homes.
Solution:
Funded 90% of the appraised value of the real estate providing
significant cash-out to the borrower.
154 Pad Mobile Home Park, Zanesville, OH
Property Details:
Existing 154 pad mobile home park with excess land
Challenges:
Short timing for closing as previous buyer fell through.
Property in an estate and the management was poor.
Solution:
Funded 90% of the purchase price.
47 Pad Mobile Home Park, Beaufort, SC
Property Details:
Existing 47 pad mobile home park
Challenges:
High density of park owned homes. High pad rents for market.
Solution:
Funded 80% of the purchase price of the property.
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