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MINNESOTA AND MICHIGAN — Farmington Hills, Mich.-based iCap Realty Advisors has secured an approximately $23 million loan for a seven-property manufactured home community portfolio located throughout Florida, Michigan, Minnesota and Nevada. The undisclosed borrower is an experienced owner of manufactured home communities. The non-recourse financing was based on a 25-year term, with a 25-year amortization schedule. The loan was placed with one of iCap’s correspondent life insurance company lenders.