2002 Transactions
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
