2004 Transactions
Tremont Structures $21,800,000
Financing for Alaska Manufactured Housing Communities
The
Chicago office of Tremont Realty Capital structured a permanent
loan for the refinance of Southwood Manor and Penland Manufactured
Housing Communities in Anchorage, Alaska.
Tom Lorenzini, a Managing Director with Tremont,
arranged the two loans, $10,820,000 for Penland and $10,985,000
for Southwood Manor. The 7-year, non-recourse loans provided
for approximately 80% of the value. The properties were
95% occupied at the time of closing. According to Tom Lorenzini,
"We were able to understand the Anchorage market's
limited supply and provide equity recapitalization for the
borrower."
For additional information on this transaction,
please contact:
Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960
