2001 Transactions

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Tremont Arranges Financing for St. Louis Area Manufactured Housing Community

The Chicago office of Tremont Realty Capital, Inc. arranged financing for the refinance of Valley View Estates manufactured housing communities located in O'Fallon, Illinois.

Tom Lorenzini, Managing Director of Tremont, arranged the $3,600,000 loan, which was funded through the Fannie Mae DUS program. The 10-year, non-recourse loan provided for roughly 75% loan to value with a mid 6% interest rate. The property's 230+ home sites were virtually 100% occupied at the time of closing. Amenities include an on-site office, playground and basketball court. "The loan allowed the borrower to secure a loan term fixed rate mortgage at very attractive pricing while at the same provided the recapture equity to fund a planned expansion", according to Lorenzini.

For additional information on this transaction, please contact:

Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960