Monday, December 19, 2016

HFF secures $5.8 million financing for manufactured home community in San Diego County, CA

Oak Tree Ranch, Ramona, CA

Zach Koucos
SAN DIEGO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $5.8 million in financing for Oak Tree Ranch, a 126-home site, all-age manufactured home community in the San Diego County community of Ramona, California.

HFF worked on behalf of the borrower, Hometown America, to secure the five-year, fixed-rate, full-term, interest-only loan through Aegon USA Realty Advisors, LLC, a commercial real estate investment and management arm of Aegon Asset Management.

Oak Tree Ranch is located on a 93-acre site in Ramona, approximately 35 miles northeast of downtown San Diego.  The property is less than one mile from California State Routes 67 and 78, providing easy access to neighboring cities in San Diego County, including Escondido, Poway, Rancho Bernardo, downtown San Diego and the California coast. 

Originally developed with 79 home sites, an additional 47 sites were added by the previous ownership, with entitlements for up to 250 home sites total.  Hometown America plans to bring in new, high-quality multi-section manufactured homes for sale to continue the expansion of the community. 

Amenities at Oak Tree Ranch include a historic home used as the leasing office, a clubhouse, swimming pool, spa, laundry, RV/boat storage, community garden and outdoor entertainment grounds with event pavilion.

Doug Minahan
The HFF debt placement team representing the borrower was led by director Zach Koucos.

“Oak Tree Ranch is another great addition to Hometown’s portfolio and fits very well within our investment strategy of acquiring high-quality communities in target markets such as California,” said Doug Minahan, vice president of Hometown America.

 “We were very pleased with the competitive quotes received through HFF’s efforts.  This is a clear indication that lenders are bullish on premium manufactured housing communities located in desirable markets.”

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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