December 15, 2016
Holliday Fenoglio Fowler, L.P. (HFF) secured $5.8 million in financing for Oak Tree Ranch, a 126-home site, all-age manufactured home community in Ramona, CA. Located on a 93-acre site, the property has entitlements for up to 250 home sites total.
Property amenities include a historic home, serving as the leasing office, a clubhouse, swimming pool, spa, laundry, RV/boat storage, community garden and outdoor entertainment grounds with event pavilion.
HFF worked on behalf of the borrower, Chicago-based Hometown America, to secure the five-year, fixed-rate, full-term, interest-only loan through Aegon USA Realty Advisors, LLC. HFF’s Zach Koucos represented the borrower.
Hometown America’s Doug Minahan notes strong lender interest was “a clear indication that lenders are bullish on premium manufactured housing communities located in desirable markets.”
For comments, questions or concerns, please contact Dennis Kaiser