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| Zach Koucos |
SAN DIEGO, CA – HFF announced that it has secured $15 million in financing for Mobil Country
Club, a 479-unit, senior (55+) manufactured home community in Rancho
Cordova, California.
Working exclusively on behalf of Country Club Investors, LP and Storz
Management Company (SMC), HFF placed the 15-year, fixed-rate, 30-year
amortization loan with Voya Investment Management (formerly ING). Proceeds will be used to retire existing
debt on the property and for capital reserves.
Mobil Country Club is situated on a 54.6-acre
site at 2473 Sunrise Boulevard, approximately 10 minutes east of downtown
Sacramento.
Completed in three phases, the community is 99.2-percent
occupied and includes off-street and guest parking, as well as 110 RV/boat
storage spaces. Community amenities
include a heated swimming pool, clubhouse, billiard room, library, sauna and
enclosed spa.
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| Typical Mobil Country Club Home, Rancho Cordova, CA |
The
HFF team representing the borrower was led by director Zach Koucos. HFF worked directly with SMC’s CFO Mark
Weiner and president Andy Carey on the transaction.
“Our
life insurance company correspondents are very aggressive right now for
long-term, fixed-rate loans on high quality multi-housing properties such as
Mobil Country Club. Many of our clients
with long-term hold objectives are taking advantage of today’s unique
recapitalization opportunities,” Koucos said.
“I have worked with many lending institutions and
intermediaries on transactions of various sizes, and my recent experience with
HFF was by far one of the best,” Weiner said.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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