Desert Palms RV Park

Transaction description

Grady Seldin, CPA of PSRS arranged the $1.7M acquisition financing for an RV park in Apache Junction, Arizona. The subject property, composed of 60 sites, has been recently upgraded by the Seller and is a lease-up value-add play for the buyer. Closed with a bank lender, PSRS was able to secure the loan at 70% loan-to-purchase price and provide a 10-year term with a 30-year amortization. While this was a repeat client for Grady, it was a new borrower/lender relationship where all contingency milestones were met on time with no extensions required.