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| Spanish Ranch II community, Hayward, CA |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has arranged $11.5 million in
acquisition financing for Spanish Ranch
II, a 187-home site, 100-percent occupied, manufactured home community for
seniors (age 55+) in the San Francisco Bay Area community of Hayward,
California.
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| Spanish Ranch II poolside, Hayward, CA |
HFF worked on behalf of
the borrower, Hometown America, to secure the 10-year, fixed-rate, full-term,
interest-only loan through Aegon USA Realty Advisors, LLC, a commercial real
estate investment and management arm of Aegon Asset Management.
Spanish Ranch II is
situated on 22 acres at 121 Ranchero Way approximately three miles from
Interstate 880 and five miles from the San Mateo Bridge, which provides direct
access to all major cities in the Bay Area.
The community is 18 miles
south of downtown Oakland and 26 miles southeast of downtown San
Francisco. Spanish Ranch II features a
resort-style clubhouse, dining room, library, pool, Jacuzzi, guest parking and
all double-wide or larger home sites.
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| Zach Koucos |
The HFF debt placement
team representing the borrower was led by director Zach Koucos.
“Spanish Ranch II is
another great addition to Hometown’s portfolio and fits very well within our
investment strategy of acquiring high-quality communities in target markets
such as California,” said Doug Minahan,
vice president of Hometown America.
“We were very pleased with the competitive
quotes received through HFF’s efforts.
This is a clear indication that lenders are bullish on high-quality
manufactured housing communities located in desirable markets.”
“The debt markets remain
very competitive for high-quality manufactured housing communities like Spanish
Ranch II,” Koucos added. “We are
grateful to Hometown America for the opportunity to assist them in financing
such an excellent acquisition.”
For a
complete copy of the company’s news release, please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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