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| Ojai Oaks Village, Ojai, CA |
SAN DIEGO, CA – HFF announced today that it has arranged
$16.35 million in life insurance
company financing for La Maria, a 158-unit, senior (55+) manufactured
home community in Santa Maria, California and Ojai Oaks Village, a
125-unit, all age manufactured home community in Ojai, California.
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| La Maria community, Santa Maria, CA |
HFF
worked exclusively on behalf of Wynne Corporation to secure acquisition
financing for La Maria, and a refinance of Ojai Oaks Village, in two separate
transactions.
HFF placed the $8.05
million, 10-year, fixed-rate loan for La Maria with Aegon USA Realty Advisors,
LLC. A separate $8.3 million, 10-year,
fixed-rate loan for Ojai Oaks Village was placed with Lincoln Financial
Group. HFF will also service the two
loans.
La
Maria is located on a 20-acre site at 1701 South Thornburg Street in Santa
Maria, about 150 miles northwest of Los Angeles in Santa Barbara County.
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| Zach Koucos |
Community amenities include a clubhouse,
swimming pool, spa, laundry facilities and RV storage. The clubhouse and pool were recently
renovated, and the community is 98.1 percent occupied.
Situated on 14.7 acres, Ojai Oaks Village is located at 950
Woodland Avenue about 25 miles east of Santa Barbara in Ventura County.
The 96 percent occupied community is designed with the look
of a single-family housing subdivision and some of the highest quality
manufactured homes in the area.
Amenities include a large clubhouse, swimming pool, spa, laundry
facilities.
The
HFF team representing the borrower was led by director Zach Koucos.
“We were very pleased to capture historically low interest
rates well below four percent, fixed for 10 years, on both of these quality
manufactured home communities,” Koucos said.
Wynne
Corporation is a Southern California-based owner and operator of manufactured
home communities and other income properties, with more than five decades of
experience.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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