Maverick Commercial Mortgage Closed A $2,062,500 Acquisition Loan For A 152 Site Manufactured Housing Community Located in Middlefield, Ohio
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Benjamin L. Kadish of Maverick Commercial Mortgage is proud to announce the closing of an acquisition loan on a 152 site
manufactured housing community known as Middlefield MHC. Middlefield MHC is located in Middlefield, Ohio. The community
features a management office, off-street parking, and storage units.
The non-recourse loan which is subject to standard carve-outs, financed the acquisition of the community, capital
improvements including new signage, road resurfacing, waste water treatment upgrades, and installation of new water meters
and closing costs. The fixed-rate loan has a term of 10 years, is interest only for two years, and amortizes over a 30 year period.
The loan was funded by a national lender.
Maverick Commercial Mortgage is in the process of closing additional loans for the borrower, Park Place Communities, who is
aggressively growing their manufactured housing community portfolio and currently owns and operates 35 MHCs in 13 states.
Brian Calhoun of Calhoun, Bhella, and Sechrest located in Dallas, Texas provided legal counsel for the borrower. Daniel Graves
of Polsinelli located in Kansas City, Missouri provided legal counsel for the lender.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc., arranges a wide variety of commercial real estate loans ranging from $2,000,000 to
$50,000,000 for its middle market real estate developer and investor clients.
Please contact Benjamin L. Kadish at 312-268-6000, 312-953-4344, or at ben.kadish@mavcm.com.