Monday, January 6, 2014

HFF secures $31.08 million financing for Green River Village in Corona, CA


Green River Village, 4901 Green River Road, Corona, CA



Zach Koucos
SAN DIEGO, CA – HFF announced today that it has arranged $31.08 million in financing for Green River Village, a 333-home site manufactured home community in Corona, California.

                HFF worked on behalf of the borrower, Hometown America, to secure the 10-year, fixed-rate loan through Union Bank, N.A.  Loan proceeds were used to pay off a maturing loan balance.

Green River Village is situated on a 41.1-acre site at 4901Green River Road adjacent to Riverside Freeway 91, just east of the Orange and Riverside County line in Corona.

The all-ages community is 92 percent occupied with amenities including a recently upgraded clubhouse, two swimming pools, indoor spa, fitness room, picnic areas, playground, basketball court and RV storage.

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

“The quality of this property and its accessible Southern California location, combined with Hometown America’s premier sponsorship, resulted in a competitive marketplace for the financing of Green River Village. 

"It’s a sign that there is great depth to the lending pool for the manufactured home community asset class,” said Koucos.

Founded in 1997 and based in Chicago, Illinois, Hometown America is a privately-held real estate investor that owns and operates manufactured housing communities across the country.  Today, the company operates 43 communities in 10 states.  www.hometownamerica.com.

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
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

No comments:

Post a Comment