TUESDAY, SEPTEMBER 30, 2008

iCap secures manufactured home portfolio loan

by Walter Kovacs
Minnesota

A $23,225,000 loan was arranged by iCap Realty Advisors for a seven property manufactured home community portfolio with properties throughout Minnesota, Michigan, Florida and Nevada.

Larry Harwood of iCap Michigan secured the loan for an undisclosed borrower. The non-recourse financing, based on a 25-year term with a 25-year amortization schedule, was made with Capital Markets Source.

The value of the master lease Love Funding processes loan under HUD'S LEAN program Arbor Closes $1,427,600 Fannie Mae DUS Loan Crookston, Minn., ice arena to net city $150,000 annually Financing arranged for four area multifamily units Grandbridge relying on stability, expansion to survive real estate slump Zen in 2010? Heaven in 2011? NorthMarq secures mortgage financing for St. Cloud apartments Leaders Bank extends Melrose Park, Ill., retail center loan NorthMarq arranges mortgage financing for two Twin Cities apartment complexes