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| Sarah Murphy |
SAN FRANCISCO, CA – JLL Capital Markets has arranged the acquisition financing of the 253-unit Summerwood Mobile Home Park in Lafayette, Louisiana. Terms of the deal were not disclosed.
JLL worked on behalf of the borrower, Prime
Oak Capital, to secure the loan through RRA Capital. Since its inception in
2017, Prime Oak Capital has specialized in the investment of
mobile/manufactured communities and currently owns and manages over 11 properties
in four different states.
Jonah Aelyon
Built in 1970, Summerwood Mobile Home Park boasts 85% occupancy with all but one home being tenant-owned. The owner also plans for a renovation that will infill the existing 36 vacant pads over the next year.
Situated at 3201 Kaliste Saloom Rd.,
Summerwood is located approximately seven miles from downtown Lafayette.
Cole Bernabei
The community benefits from its strong proximity to both New Orleans and Baton Rouge economies as Lafayette is expected to see strong population growth of 1.86% in the next five years, outpacing the U.S. average of 0.5%.
The JLL Capital Markets Debt Advisory team was
led by Director Jonah Aelyon, Vice President Sarah Murphy and
Analyst Cole Bernabei.
“JLL is excited to have assisted Prime Oak Capital
in their first Louisiana acquisition as they expand their footprint to the
Southeast,” said Aelyon. “RRA was highly communicative and a great lending
partner for a first-time client to both platforms.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
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| Summerwood Mobile Home Park in Lafayette, LA |
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.
The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos, and research resources, please visit JLL’s newsroom.
Contact:
Jenna Sharp
JLL,
Public Relations
Dallas,
Texas
M
+1 214 394 3356
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