Done Deals: HFF secures $8.2 million financing for San Diego County, CA manufactured home community

Friday, September 20, 2013

HFF secures $8.2 million financing for San Diego County, CA manufactured home community

Volla Cajon. 255 East Bradley Avenue, El Cajon, CA

SAN DIEGO, CA – HFF announced today that it has arranged $8.2 million in financing for Villa Cajon, a 125-home site manufactured home community in El Cajon, California.

Zach Koucos

HFF worked on behalf of the borrower, Kingsley Management, to secure the 25-year, fixed-rate, fully-amortizing loan through Lincoln Financial Group. HFF will also service the loan.

Villa Cajon is located at 255 East Bradley Avenue just off the San Vicente Freeway, approximately 20 minutes from downtown San Diego. The all-ages community is 100 percent occupied and features a clubhouse, swimming pool, game room, playground and picnic area.

The HFF team representing the borrower was led by director Zach Koucos.

“This well-maintained property has demonstrated consistent demand, and excellent occupancy history. The lender recognized the strength of this asset and offered a very compelling long-term rate,” Koucos said.

Founded in 1973, Kingsley Management Corp (KMC) is one of the largest privately-owned manufactured home community operators in the nation. KMC oversees more than 40 communities in the states of Texas, New Mexico, Colorado, Utah, Arizona, Nevada, Idaho and California.