Tremont Arranges $1,632,000
Financing for Red Hill Estates
Annapolis office of Tremont Realty Capital, Inc. arranged
financing for the refinance of Red Hill Estates, a 31-pad
manufactured housing community located in Quaker Town, PA.
John Chase, a Senior Director with Tremont,
arranged the $1,632,000 loan, which was funded through LaSalle
Bank's small loan program. The 10-year, non-recourse loan
provided for roughly 80% loan-to-value with a 7% interest
rate. The community was developed in 2001 and had just stabilized.
According to John Chase, "This transaction was for
a good client of mine and although it was a small transaction
I was happy to arrange the financing for this newer community."
For additional information on this transaction,