Lloyd MHC – Bradenton, FL

June 10, 2007 - Union Capital Investments, LLC provided permanent financing in the amount of $1,400,000 for the refinance of Lloyd MHC. The loan is for a ten year term with a 20 year amortization period. The 6.43% fixed rate loan is based on a 76% loan-to-value with debt service coverage of 1.37. The Borrower specializes in the buying and selling of manufactured home communities and RV parks, and has been in this business for over a decade.

Lloyd MHC is a 71-space all-age manufactured housing community located in Bradenton, Florida. The community is on 5.40 acres, the homes are primarily singlewides, and pad rent is $ 315. Amenities include a community house, laundry facilities, and RV and boat storage. Lloyd benefits from its close proximity to major highways and the area’s population is expected to increase 2.0% over the next five years. Occupancy at Lloyd MHC is currently 97.2% and has been maintained at market levels since the Borrower acquired the property in October of 2004.