2005 Transactions
Tremont Structures $2,250,000
Florida RV Resort Financing
The
Chicago office of Tremont Realty Capital arranged a permanent
loan for the refinance of Space Coast RV Resort in Rockledge,
Florida. Space Coast is a 259-site RV community, catering
primarily to retirees. Amenities include a clubhouse, swimming
pool, community store, shower rooms, laundry facilities
and shuffleboard.
Thomas Lorenzini, Managing Director with Tremont,
arranged the 10-year, $2,250,000, non-recourse loan, which
provided for approximately an 80% loan-to-value. According
to Lorenzini, "Tremont really understands the unique
seasonality of income specific to RV Resorts. In the Space
Coast assignment, we were able to convince the lender to
structure the loan without a seasonality reserve, while
at the same time allowing for the borrower to recoup some
of the equity."
For additional information on this transaction,
please contact:
Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960
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