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2003 Transactions


Tremont Arranges $10,450,000 Financing for Virginia Manufactured Housing Community


The Annapolis office of Tremont Realty Capital arranged financing for the refinance of County View Mobile Home Park, a 464-space manufactured housing community located in Virginia Beach, Virginia.

John Chase, a Senior Director with Tremont, arranged the $10,450,000 loan, which was funded through a Wall Street conduit lender. The 10-year, non-recourse loan provided for roughly 80% loan to value with a 5.5% interest rate. The property was 97% occupied at the time of closing. Amenities include a location 2 miles from the Atlantic Ocean. According to John Chase, "We were able to structure an aggressive fixed rate deal with significant equity recapture on the park, which was originally developed in the early 1960s". An amenity of the property is the location, just two miles from the Atlantic Ocean.

For additional information on this transaction, please contact:

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























 


 
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