Maverick Commercial Mortgage Closed A $4,500,000 First Mortgage on Oak Haven Estates Manufactured Housing Community Located in Arlington, Texas
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Benjamin L. Kadish of Maverick Commercial Mortgage is proud to announce the closing of the first mortgage for Oak Haven Estates Manufactured Housing Community. Oak Haven Estates is located at 415 North East Street in Arlington, Texas. The subject property is located on the east side of North East Street, and the west side of Truman Street just southeast of Cowboys Stadium. The mobile home park is situated on 9.05 acres. The site is improved with 98 mobile home pads. The site features driveways and full utility hook-ups for each unit and is within close proximity to schools and shopping. The property features asphalt roads, street lights, city water and sewer, concrete parking and many mature trees. The 10-year fixed-rate first mortgage was limited to 71% loan to value. The loan was non-recourse and amortized over a 30- year period. Proceeds from the first mortgage paid off the existing lender, returned equity to the borrowing entity, and paid for closing costs. The loan was funded by a national 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 firstname.lastname@example.org.
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