Arthur Tuverson, Managing Director of Pillar’s Manufactured Housing Community/RV Resort Group, has originated an $11.5 million Freddie Mac acquisition loan for Lake Villa Estates manufactured home community (MHC) in Oxford, Michigan, 45 miles north of Detroit, according to rebusinessonline.

Featuring 852 homesites on 174 acres, the MHC was built in 1973 and 1993, and is comprised of 60 percent multi-section homes and 40 percent single-section. At the time of closing, Lake Villa was 58 percent occupied. Tuverson arranged the seven-year, adjustable-rate financing. Neither the buyer nor the seller was identified, MHProNews understands. ##

(Photo credit: rebusinessonline–Lake Villa Estates, Oxford, Michigan)

Article submitted by Matthew J Silver to Daily Business News-MHProNews.