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Apache Junction's manufactured home community and RV park. Apache Junction’s manufactured home community and RV park. Photos courtesy of Alliant CU.

Alliant Credit Union in Chicago continued to build on its recent commercial real estate lending activity – this time with a $48.5 million loan to refinance a manufactured housing community and RV park in Apache Junction, Ariz., 35 miles west of Phoenix.

According to the announcement from the $14.6 billion Alliant Monday, the five-year, interest-only loan was structured to support the property owner’s business plan. Alliant also said the provisions of the loan included equity recapture, future earn-out and a moderate loan-to-value ratio. In addition, proceeds of the loan were used to pay off existing debt.

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Natasha Chilingerian

Natasha has served as an editor for CU Times since March 2015. She also served as a communications specialist for Xceed Financial Credit Union (now Kinecta FCU) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer for more than 16 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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