2002 Transactions

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Tremont Arranges $1,400,000 Financing for Pioneer Village MHC

The Annapolis office of Tremont Realty Capital, Inc. arranged financing for the refinance of Pioneer Village MHC, an 83-site manufactured housing community located in Horseheads, New York.

Senior Director, John Chase, of Tremont Realty Capital, arranged the $1,400,000 loan, which was funded through a securitized lender. The 10-year, non-recourse loan provided for roughly 80% loan-to-value with a near 6% interest rate. At the time of closing the property was 95% occupied. "The securitized lender on this transaction operated very smoothly and the process was exceptionally clean for this small loan in such a small market," according to John Chase.

For additional information on this transaction, please contact:

John Chase
Senior Director
Email: jchase@tremontcapital.com
Phone: 410.604.1744