Thursday, October 2, 2014

R3 Funding Arranges $11.5 Million Loan for Orion Lakes Manufactured Home Community in Orion, MI

Orion Lakes Manufactured Home Community
Orion Lakes, MI
ORION, MI --  R3 Funding, a national lender correspondent providing origination and workout services, announced today that it has arranged an $11.5 million fixed rate CMBS loan for Orion Lakes, a manufactured home community located in Orion, Michigan. 

The announcement was made by Ray Potter, managing partner of R3 Funding.

Orion Lakes is 416 pads and is located at 47 Bluebird Hill. It has a 74 percent occupancy rate and its amenities include on-site laundry facilities, a playground and clubhouse, and a basketball court.

The community sits adjacent to the Orion Assembly GM plant, which received a $545 million investment in 2010 in order to retool for the Chevrolet Sonic and Buick Verano programs.

For a complete copy of the company’s news release, please contact:

Carl Gaines
Account Director
Great Ink Communications
27 Union Square West, Suite 205
New York, NY 10003
w: (212) 741-2977
c: (917) 202-0771

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