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August 6, 2020 Comments Off on Hunt Provides $41M for Arizona, Utah Manufactured Housing Communities Views: 551 Phoenix, Phoenix & Southwest News, Southwest News

Hunt Provides $41M for Arizona, Utah Manufactured Housing Communities

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Hunt Real Estate Capital provided three Fannie Mae conventional loans totaling $41.4 million to refinance manufactured housing communities (MHCs) in the western U.S. The refinancing lowered the interest rate significantly and provided cash-out to the borrower while retaining reliable, long-term cash flow.

Hunt’s Chad Hagwood says, “It’s a testament to both the strong sponsor and our team at Hunt that we were able to deliver on these transactions despite challenges caused by COVID-19.”

The experienced sponsor, a repeat Hunt client and Fannie Mae borrower, has owned and managed MHC properties for more than 30 years, with a portfolio exceeding 2,100 sites. The properties include:
– Tempe Cascade Mobile Home Estates, a 273-site community in Tempe, AZ.
– Cottonwood Estates, an 83-site MHC located in Uintah, UT (pictured).
– Midland MHC features 224 sites and a single-family home located in Roy, UT.

The three MHCs are 100% mission-driven and share the same management company. The transactions were arranged by Sterling Financial Mortgage & Investment’s Tom Houlihan.

Connect With Hunt’s Hagwood

Connect With Sterling Financial Mortgage & Investment’s Houlihan


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