Acquired a non-performing 2 loan relationship secured by 3 mobile communities located in Ohio and Indiana. PNL structured a forbearance agreement that provided the Borrower time to refinance the loans at discounted payoff. The forbearance period expired and title to the collateral was transferred PNL which immediately engaged a regional leader in mobile home community management to stabilize and enhance occupancy at parks, allowing PNL to market and dispose of all 3 communities within 18 months of acquisition.
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