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| Oak Tree Ranch, Ramona, CA |
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| Zach Koucos |
SAN DIEGO, CA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $5.8 million in financing
for Oak Tree Ranch, a 126-home site,
all-age manufactured home community in the San Diego County community of
Ramona, California.
HFF worked on behalf of
the borrower, Hometown America, to secure the five-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.
Oak Tree Ranch is located
on a 93-acre site in Ramona, approximately 35 miles northeast of downtown San
Diego. The property is less than one
mile from California State Routes 67 and 78, providing easy access to neighboring
cities in San Diego County, including Escondido, Poway, Rancho Bernardo,
downtown San Diego and the California coast.
Originally developed with
79 home sites, an additional 47 sites were added by the previous ownership,
with entitlements for up to 250 home sites total. Hometown America plans to bring in new,
high-quality multi-section manufactured homes for sale to continue the
expansion of the community.
Amenities at Oak Tree
Ranch include a historic home used as the leasing office, a clubhouse, swimming
pool, spa, laundry, RV/boat storage, community garden and outdoor entertainment
grounds with event pavilion.
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| Doug Minahan |
The HFF debt placement
team representing the borrower was led by director Zach Koucos.
“Oak Tree Ranch 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 premium manufactured housing
communities located in desirable markets.”
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 | hfflp.com
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