October 11, 2016
Bethesda, MD-based Capital One provided a $15.8-million Fannie Mae structured adjustable rate loan to refinance Rio Vista Mobile Estates, an all-age, 200-space manufactured housing community (MHC) in Anaheim, CA. The 10-year loan is being amortized on a 25-year schedule.
The borrower, Anaheim Associates, L.P., will use the proceeds to retire higher-rate Fannie Mae debt, cash out equity, and finance improvements to the property as dictated by its ground lease.
The property is located in north Anaheim along the Santa Ana River, near the intersection of the 91 and 57 freeways.
Capital One Multifamily Finance’s Chad Thomas Hagwood originated the transaction.
For comments, questions or concerns, please contact Dennis Kaiser