CHICAGO – Walker & Dunlop Inc. has structured $51.7 millionin Freddie Mac financing for a portfolio of three manufacturedhousing communities in suburban Chicago, IL, on behalf of itsclient.

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Each of the three properties were refinanced with ten-year,floating-rate loans in the under 3% range, which includedinterest-only for a portion of the term.

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By utilizing income from newly delivered homes at each of thecommunities, the loans were able to be upsized.

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Comprising more than 1,000 sites, the portfolio's communitiesfeature both single-wide and double-wide homes. Situated near thePlum Creek Forest Reserve, outside of the Chicago metropolitanarea, the communities offer common amenities such as swimmingpools, playgrounds, clubhouses and on-site property management.

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The Walker & Dunlop team, led by managing director, StuartWernick and director, Matt Newton, arranged the refinance on behalfof the client.

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"Manufactured housing communities provide the ultimateaffordable housing product and offer viable opportunities for thoseseeking to obtain "the American Dream" of homeownership," stateWernick. "We were thrilled to play a part in these transactionsamidst the uncertainty of the current health crisis, all whilemaintaining pricing and maximizing loan proceeds for ourclient."

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.