HFF secures $5.85 million in financing for two California manufactured home communities

SAN DIEGO, CA – HFF announced today that it has secured $5.85 million in financing in two separate transactions for Sierra Vista Estates and Morada Manufactured Home Community in Visalia and Stockton, California.

Working on behalf of Sierra Vista Estates, LLC, HFF arranged a $4.78 million, 10-year Fannie Mae fixed-rate loan for Sierra Vista Estates. Proceeds will provide cash-out and replace maturing debt.

HFF represented the Bell Family Trust in the $1.07 million post-close financing for Morada MHC. The 15-year fixed-rate loan was secured through a northern California bank and is covering acquisition costs.

Sierra Vista Estates is located at 2301 South Divisadero Street, east of Visalia Mall close to State Highway 198 in Visalia. The 13.47-acre all-age community has 125 home sites and is 93.6 percent occupied. Community amenities include a clubhouse with recreation room, billiards room, kitchen area and laundry room, plus a swimming pool and 11 RV storage spaces.

Morada Manufactured Home Community has 44 home sites and is 95 percent occupied. The 4.82-acre all-age community is located at 9454 North Highway 99, about 7.5 miles northeast of downtown Stockton.

The HFF team representing the borrowers was led by associate director Zach Koucos (lower left photo).

Contacts:
Zachary E. Loucos, HFF Associate Director, (858) 812-2351, zkoucos@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
krmurphy@hfflp.com