Monroe Capital Agents American Community Homes Facility
Monroe Capital announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the recapitalization of Towne Mortgage Corporation by American Community Homes, a platform company of Broad Solutions.
Troy, MI-based Towne originates and services mortgage loans on residential properties located primarily in Michigan, Minnesota and Wisconsin. Towne also has a wholesale division and a credit union division, which offers mortgage services to 135 credit unions directly.
“We are pleased to have Monroe Capital as a partner in creating one of the largest minority-owned mortgage originators and servicers in the country,” said Dale Lefebvre, chairman of American Community Homes. “We look forward to Monroe’s continued support as we grow and transform the business to better serve our customers.”