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