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Two California Land Lease Communities Obtain Financing

July 16th, 2013 Comments off

Working exclusively on behalf of Wynne Corporation to seek financing for two manufactured home communities (MHC) north of Los Angeles, HFF (Holliday Fenoglio Fowler, L.P.) secured acquisition financing for La Maria MHC in Santa Maria, Calif. and refinancing for Ojai Oaks Village in Ojai, Calif. La Maria is a 158-site senior MHC which received a ten-year, $8.5 million fixed-rate loan from Aegon USA Realty Advisors, LLC. HFF arranged an $8.3 million fixed-rate loan from Lincoln Financial Group for Ojai, a 125-site, 96 percent occupied all-age community 25 miles east of Santa Barbara. La Maria is 98.1 percent occupied. As nreionline informs MHProNews, HFF will also service the loans.

(Photo credit: Arnaldo Abba/psmag–Pismo Dunes MHC in Calif.)