Benjamin L. Kadish, President of Maverick Commercial Mortgage, Inc., announces the closure of the first mortgage loan for Leisure Living Manufactured Housing Community located in Fort Worth, Texas. Leisure Living is a community of 124 properties. It is located in quiet countryside. All home sites have telephone, cable TV, and subscription-based Internet access. There are large mature trees and hills. The streets are lit, there are closed mailboxes. Additional amenities include off-street parking for 2 cars, a clubhouse with lounge, dining area and kitchen, local management, boat / mobile home storage and a swimming pool.
The ten-year non-recourse loan has a fixed interest rate and is repaid over 30 years. The proceeds from the loan were used to repay the first mortgage lender, cover closing costs, and repay the borrower’s capital. The loan was funded by a national lender, with whom Maverick Commercial Mortgage has closed many loans. The property is managed by a subsidiary of American Dream Communities. Maverick Commercial Mortgage, Inc. continues to close loans to multiple female property owners, making this property the fourth funded for a female-owned LLC in the past 14 months in Illinois and nationwide.
About Maverick Commercial Mortgage, Inc.
Maverick Commercial Mortgage, Inc. provides a wide range of commercial real estate loans ranging from USD 2,000,000 to USD 50,000,000 to its developers and investor clients in the medium market.