Asset managers Monroe Capital LLC and Triad Financial Services Inc. have teamed up to launch a $300 million asset-based financing initiative aimed at expanding commercial community rental loans for manufactured housing communities.
Monroe and Triad $300M Collab : Expanding Horizons in Manufactured Housing
On Thursday, Monroe Capital LLC and Triad Financial Services Inc. revealed their new alliance, pooling around $300 million to target commercial loans for manufactured housing communities. This partnership is set to fuel Triad’s growth in the sector, helping it deepen its relationships within the industry.
Triad, a subsidiary of ECN Capital Corp., is already a veteran in the U.S. manufactured housing market, with a history dating back to 1959. The firm’s extensive network includes significant private equity partnerships with heavyweights like Blackstone and Carlyle.
Steve Hudson, CEO of ECN Capital, expressed enthusiasm about the collaboration. “Triad’s expansion into community rental financing underscores our commitment to offering compelling solutions for community owners,” Hudson stated. “We are thrilled to bring Monroe Capital on board, as they have crafted a bespoke solution that aligns perfectly with our needs. They are truly a best-in-class partner.”
Innovative Financing for Community Owners
Triad’s community rental product focuses on senior secured loans directed at owners of manufactured home communities, including real estate investment trusts (REITs), family offices, and other institutional players. These loans support community owners who rent out units across the nation. Since 2019, Triad has been offering this commercial financing product.
