MHProNews has learned from rebusinessonline that John Chase of Tremont Realty Capital has arranged a $6.6 million refinance loan for Oakland Ridge MHC (manufactured home community) in Riverhead, New York, on Long Island.

The non-recourse loan for the 100 home site community was structured with a ten-year term and a 30-year amortization schedule. The first two years will be interest only payments. The recipient of the loan was not disclosed.

This all-age community was built in 1960, according to MHVillage, and 60 percent of the homes are multisection. ##

(Photo credit: MHVillage-Oakland Ridge MHC, Riverhead, NY)

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