Benjamin L. Kadish, President of Maverick Commercial Mortgage, Inc. announces the closing of a first mortgage loan for Leisure Living Manufactured Housing Community located in Fort Worth, Texas. Leisure Living is a 124 site community. It is located in a quiet and country setting. All home sites have phones, cable TV, and internet access by subscription. There are large mature trees and rolling hills. The streets are all lit and there are covered mailboxes. Additional amenities include 2-car off-street parking, clubhouse with living room, dining area, and kitchen, on-site management, boat / RV storage, and a swimming pool.
The ten-year, non-recourse loan has a fixed interest rate and amortizes over a 30-year schedule. Proceeds from the loan were used to pay off the first mortgage lender, paid for closing costs and returned equity to the borrowing entity. The loan was funded by a national lender that Maverick Commercial Mortgage has closed numerous loans with. Property management is handled by the management affiliate of American Dream Communities. Maverick Commercial Mortgage, Inc. continues to close loans for multiple female property owners, making this the fourth property financed for a woman-owned LLC over the last 14 months, in Illinois and around the country.
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.