Thursday, January 15, 2015

HFF secures $10 million financing for manufactured home community in Sacramento, CA


Meadowbrook Mobile Home Community, North Highlands area, Sacramento, CA

Zach Koucos
SAN DIEGO, CA – HFF announced it has secured $10 million in financing for Meadowbrook MHC, a 269-home site, all-age manufactured home community in the North Highlands area of Sacramento, California.

Working exclusively on behalf of Storz Management Company (SMC), HFF placed the 10-year, fixed-rate, 30-year amortization loan with Voya Investment Management.  HFF is servicing the loan, which will be used to retire existing debt and for capital reserves.

Meadowbrook MHC is situated on 33 acres at 5700 Antelope Road, adjacent to Interstate 80 and approximately 20 minutes northeast of downtown Sacramento.  

The landscaped property averages 8.15 home sites per acre and is 97.4 percent occupied.  

Community amenities include a main clubhouse equipped with a full kitchen, dining room, billiard room, playroom, library/study and living area in addition to two heated swimming pools, Jacuzzi spa, outdoor café tables with umbrellas, basketball and recreation court, RV/boat storage and dog park.

The HFF team representing the borrower was led by director Zach Koucos.  HFF worked directly with SMC’s CFO, Mark Weiner, and its president, Andy Carey, on the transaction.

“SMC’s team is a pleasure to work with, and we are grateful that they entrusted us with this assignment,” Koucos said.  “Voya provided a great loan and execution, an example of the attractive non-recourse life insurance company capital available in today’s market.”  
  
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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