Posts Tagged ‘transaction’

Fannie Mae Funds $5M Refi of Napa Olympia MHC in Calif.

April 1st, 2016 Comments off

mfg homes  nbcsandiego creditCapital One Multifamily informs MHProNews that it arranged a $5.0 million Fannie Mae 30-year term fixed-rate loan to refinance the Napa Olympia Mobile Lodge in American Canyon, Calif. Marking their 11th Fannie Mae transaction with Capital One, the owners acquired the property in 2005 with a ground lease in place.

The lessor agreed to extend the lease from seven years to 32.5 years, thereby allowing the owners to obtain new long-term debt on Napa Olympia, but then imposed a hard deadline on completing the transaction. Damon Reed, Capital One’s Director of MHC Finance, originated the transaction and he and his staff managed to get the loan approved within 35 days of application.

The funds will allow Napa to retire higher-interest rate debt, complete upgrades to the community and add equity to the partnership. The all-age 201-home site MHC, located 75 miles northwest of San Francisco, was built in 1968 and features a swimming pool, spa and RV storage. ##

(Photo credit: nbcsandiego–manufactured home community)

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

Insider Trading at Patrick Industries, Inc.

February 25th, 2016 Comments off

patrick_indMHProNews has learned Patrick Industries, Inc. (NASDAQ:PATK)’s vice president of human resources, Courtney Blosser, sold 10,799 shares of company stock at $41.90 per share for a total transaction of $452,091. Blosser currently owns 19,560 shares of Patrick, about 0.12 percent of of the company’s market capitalization, according to franklinindependent.

Meanwhile, losangelesmirror tells MHProNews Patrick CEO Todd M. Cleveland sold 29,581 shares of stock for $42.51 per share for a total transaction of $1,246,762.25.

Patrick Industries Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing industries.

In today’s trading, Feb. 25, Patrick closed down -0.88 percent at $42.72. ##

Drew Principals Sell over 40k Shares of Stock

December 7th, 2015 Comments off

drew_ind_2_logoThe sell off of Drew Industries, Inc. stock by principals of the company continues as Chief Financial Officer (CFO) Joseph S. Giordano III sold 8,000 shares of the company at an average price of $61.00 for a net transaction of $488,000.00, dated Fri., Nov. 27, according to midsouthnewz. He now owns 578 shares of Drew (NYSE:DW), valued at $35,258.

MHProNews reported March 31, 2015, Giordano sold 19,500 shares of Drew stock March 24, 2015, at $64.75 per share, totaling $1,262,625.00. Following that transaction, he owned 209 shares of company stock valued at approximately $13,532.75.

Since mid-November, 2015, Chairman Emeritus Leigh J. Abrams, CEO Jason Lippert, President Scott Mereness, Chief Operations Officer Todd W. Driver, Chief Administrative Officer Jamie Schnur and Director David Reed have sold a total of 40,678 shares of Drew stock.

Headquartered in Elkhart, Indiana, Drew is a component supplier to the manufactured home and recreational vehicle industries. ##

(Image credit: Drew Industries, Inc.)

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