Financing to enhance real estate holdings and provide corporate liquidity
RV company Lazydays has secured $35 million in funding through a mortgage loan facility funded by clients of Coliseum Capital Management.
The $35 million loan is backed by mortgages against select dealership facilities and land reserved for future development.
The company said this financing arrangement, which carries a 12% interest rate and is set to mature in December 2026, offers Lazydays immediate liquidity in the current operating environment and the flexibility to pursue alternative financing arrangements for individual properties in the future.
Lazydays plans to allocate the net proceeds from the mortgage loan facility to various general corporate purposes, supporting its ongoing operations and growth initiatives.
“Owning and financing dealership locations is core to Lazydays’ strategy as it maintains site control and prevents fixed costs from increasing due to rent adjustments over time,” the company said in a media release.
This recent transaction is a continuation of Lazydays’ ownership strategy, similar to mortgage funding activities it executed earlier this year in Knoxville and Murfreesboro, Tenn.
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