SunTrust Provides $64.1M Refinancing for Manufactured Housing Portfolio in Suburban Detroit
DETROIT — SunTrust Banks Inc. has provided a $64.1 million loan for the refinancing of a three-property manufactured housing community located north of Detroit. The portfolio includes a total of 1,403 manufactured home sites. Two of the properties were built in the early 1970s and the other was constructed in 1989. Chris San Jose of Yale Realty & Capital Advisors arranged the loan on behalf of the local borrower. The fixed-rate loan features a 10-year term.