2001 Transactions
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
