2003 Transactions

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Tremont Arranges $5,800,000 Financing for Indiana MHC

The Chicago office of Tremont Realty Capital arranged financing for the refinance of Lantern Estates, a 220- site manufactured housing community located in Indianapolis, Indiana.

Tom Lorenzini, a Managing Director with Tremont, arranged the $5,800,000 loan, which was funded through a national conduit lender with whom Tremont has a long-standing relationship. The 10-year, non-recourse loan provided for roughly 80% loan to value with a mid 5% fixed rate of interest. The property was 92% occupied at the time of closing. Amenities include a clubhouse, a swimming pool and a tennis court. According to Tom Lorenzini, "We were able to accommodate the timing needs of this repeat client by closing the loan inside of 45 days, while managing the defeasance process on the existing loan."

For additional information on this transaction, please contact:

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