2003 Transactions
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
