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October 26, 2020 Comments Off on JLL Closes $118M in SoCal Manufactured Home Community Financings Views: 643 California News, Los Angeles, Orange County, San Diego

JLL Closes $118M in SoCal Manufactured Home Community Financings

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A San Diego-based team at JLL Capital Markets arranged more than $118 million in financing in separate transactions for seven manufactured home communities totaling 1,038 home sites in SoCal.

JLL worked on behalf of the operators to secure fixed-rate financing through various lenders, including Fannie Mae, Freddie Mac, life insurance companies and a regional credit union.

Properties included:
• Pacific Sunset and Western Skies in Anaheim: $24.4 million, long-term, non-recourse life insurance company loans
• Tumbling Waters in Covina: $9.96 million, 30-year, fully amortizing Fannie Mae loan
• Confidential Inland Empire all-age community: $57.2 million, 2.35% fixed-rate, 10-year, full term interest-only Fannie Mae loan
• Beachwood Park in Dana Point (pictured above): $13.5 million, 10-year fixed-rate at 2.4%, Fannie Mae, five years interest-only
• Stardust MHC in Ventura: $7.24 million, 2.74% fixed-rate, 10-year, non-recourse Freddie Mac loan
• El Capitan MHC in El Cajon: $6.38 million, seven-year regional credit union financing, three years interest-only

JLL’s Zach Koucos led the team representing the various borrowers on all seven transactions.

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