2002 Transactions

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Tremont Arranges Financing for Illinois Manufactured Housing Community

The Chicago office of Tremont Realty Capital, Inc. arranged financing for the Acquisition of the Tuckaway Manor Manufactured Housing Community located in Germantown Hills, Illinois.

Tom Lorenzini, Managing Director of Tremont, arranged the $1,150,000 loan, which was funded through a conduit program. The 10-year, non-recourse loan provided for roughly 75% loan to value with a low 7% interest rate. The property's 92 home sites were approximately 90% occupied at the time of closing.

Amenities include an on-site office, 2 Single-family homes and several self-storage unites. "The loan allowed the borrower to secure a long term fixed rate mortgage at very attractive pricing", according to Lorenzini.

For additional information on this transaction, please contact:

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