Maverick Commercial arranges first loans for Missouri mobile home parks
April 05, 2010 | Staff Writer | Print Article | Email this Article
Benjamin Kadish, president of Chicago’s Maverick Commercial Mortgage, Inc. recently arranged a $1.25 million first mortgage loan refinancing of the Midwest Mobile Home park located in Independence, Mo., and the Ferrelwood Mobile Home Park in Ferrelwood, Mo.
Debt for the first mortgage loan was provided by a regional portfolio lending institution.
Midwest Mobile Home Park consists of 120 home sites on 14.78 acres of land located in Independence, and is about 10 miles east of Kansas City. The park features an in-ground swimming pool, playground and a resident manager. Each lot is improved with municipal water and sewer service.
Ferrelwood Mobile Home Park consists of 105 home sites and one single-family home. The property was constructed in the 1970s, and is situated on 17 acres of land in Ferrelview, Mo., which is about 20 miles north of Kansas City.
Both communities are considered two-star parks.
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