2003 Transactions
Tremont Arranges $11,840,000
Financing for Maryland MHCs
The Annapolis office of Tremont Realty Capital arranged
two first mortgage loans for the refinance of two manufactured
housing communities: Chesapeake Estates of Thomasville,
a 316-space community located in Thomasville, Pennsylvania
and Chesapeake Mobile Court (shown below), a 196-space,
22-acre community located in Hanover, Maryland.
John Chase, a Senior Director with Tremont,
arranged the $6,400,000 Thomasville loan and the $5,440,000
Hanover loan. Tremont structured ten-year fixed-rate loans,
which provided for roughly 80% loans to values with 5.25%
interest rates. The borrower was able to lock the interest
rate at application thereby eliminating interest rate risk
during the loans processing stage. According to John Chase,
"Tremont was able to lock in a long term, low rate
which provided the borrower with the ability to recapture
a significant amount of equity."
For additional information on this transaction, please contact:
John Chase
Senior Director
Email: jchase@tremontcapital.com
Phone: 410.604.1744
