Moore Haven, Florida – RV Park

The strategic goal of the Borrower was to use the proceeds from the Prescient Capital loan to refinance out of a seller-financed loan. The loan request is for $1,930,000, and Prescient Capital secured the loan with a 1st lien on the cash-flowing RV Park. The RV Park has 87 pads and a 12-acre site. Once developed, the 12-acre site will add an additional 60 pads. The RV Park has an “as is” net operating income (NOI) run rate of $216,000, resulting in an 11.20% debt yield. Prescient Capital utilized a broker opinion of value, and the BOV estimated the “as is” value of $3,525,000 and a loan-to-value (LTV) equal to 55%. In addition to the primary Collateral, Prescient Capital secured the 2nd lien on three (3) other RV Park sites: 190 RV sites, eight apartments, and 42 park models. The BOV estimated the “as is” value of $6,500,000. The quick-close ability of Prescient Capital provided an advantage for the Borrower in achieving their long-term strategic goals. To further secure the Prescient Capital loan, the Borrower signed a personal guarantee with a combined net worth over $4,000,000.

$1,930,000

55%