CBRE Arranges Refinancing for Manufactured Home Communities

TriStar Estates mhcMHProNews has learned Franklin Management Group of Newport News, Virginia has arranged $18.8 million in refinancing for five of the more than 20 manufactured home communities (MHCs) it owns. The long-term fixed rate non-recourse recapitalization was arranged by CBRE (Coldwell Banker Richard Ellis)-Hampton Roads.

The five properties, comprising 2,600 homesites, according to dailypress, include Bullock Mobile Home Park in Suffolk; Grassy Creek Mobile Home Park in Harrisonburg; Hollins Mobile Home Park in Roanoke; Riverland Mobile Home Park in Salem; and Shattalon Mobile Home Park in Winston-Salem, North Carolina. ##

(Photo credit: Tri-Star Estates)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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