It is a 10-year commitment consisting of an initial five-year, fixed-rate loan at 6.5% interest and another with a floor of 7% interest, covering a five-year period. The loan is non-recourse and provided at an 80% loan-to-value ratio with the ability to "earn-out" additional proceeds over the next three years, contingent on the park's owners' ability to increase rents to market-rate levels.

The property was 98% occupied at the time of the closing. Funds were provided by an unnamed Midwest bank.

Chase says in a statement that his firm "structured the loan to maximizeleverage with aggressive, fixed-rate pricing. The loan was non-recourse withopen prepayment ability after only one year. Finally, the lender had no issues with cashing out the (unidentified) borrower even though he'd only owned the property for a short time. The lender was willing to give the borrower credit for the value he had received through higher rents in the short period he had owned the property."