TREMONT ARRANGES $9.36 MILLION LOAN FOR 406-UNIT MHC

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QUAKERTOWN, PA. — The Annapolis, Md., office of Tremont Realty Capital has arranged a $9.36 million loan for the refinancing of Richland Meadows, a 70-acre, 406-unit manufactured housing community located near Interstate 476 in Quakertown. John Chase of Tremont originated the financing through one of Tremont’s correspondent lenders. Terms of the loan include a 10-year term, non-recourse, with a 65 percent loan-to-value ration and a 6.4 percent interest rate. The borrower was not disclosed.

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