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| The Californian, Hemet, CA |
SAN DIEGO, CA – HFF announced today that it has
arranged a $5.25 million refinancing for The Californian, a 159-home, all-age
manufactured home community located in Hemet, California.
Working exclusively
on behalf of Cal-Hemet, LLC, HFF arranged the 10-year, fixed-rate, non-recourse
Fannie Mae DUS loan, which is amortized over 30 years. Loan proceeds are paying
off existing financing and funding upgrades to the property including a new
solar energy program.
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| Zach Koucos |
The Californian is
located at 1150 North Kirby Street in Hemet, a community in the San Jacinto
Valley about 80 miles equidistant between San Diego to the southwest and Los
Angeles to the northwest. The 94 percent leased community offers residents two
swimming pools, a wading pool, recreation center, billiards room, playground,
basketball court and laundry facilities.
The HFF team
representing Cal-Hemet, LLC was led by associate director Zach Koucos and real
estate analyst Husayn Hasan.
“We had a number of non-recourse
lenders compete for the financing of The Californian, and in the end this
transaction represented the best of what the market had to offer given our
client’s objectives,” said Koucos.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |
www.hfflp.com
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