Edgewood recently funded a $5,062,500 bridge loan secured by three manufactured home communities in Lumberton, NC, totaling 162 lots. Edgewood’s loan provides the sponsor, an experienced MHC operator, the time and flexibility to increase revenues and reduce expenses through the sale and/or transfer of park-owned homes to tenant-owned homes. Upon execution of the business plan, the sponsor plans to take out Edgewood’s loan with traditional financing.
Lumberton Manufactured Home Community
$5,062,500 | 162 Lots