MHProNews has learned Capital One arranged the refinancing for Lakeside Mobile Home Community just northeast of Omaha, Nebraska at Carter Lake, Iowa, providing a $6 million adjustable-rate Fannie Mae loan for the 329-home site manufactured home community.
Part of Inspire Communities, the funds will be used to retire older debt, complete capital improvements and purchase new homes, according to rebusinessonline. Built in the early 1970s, Lakeside features a swimming pool, clubhouse, basketball court, playground and storm shelter.
Damon Reed of Capital One facilitated the transaction, which includes a seven-year term and 30-year amortization schedule. ##
(Photo credit:Lakeside Mobile Home Community)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.