SAN DIEGO, CA – Holliday Fenoglio Fowler, L.P. (HFF) announces $8.6 million in financing for Mission Gorge Villa, a 140-home site, Class A manufactured home community for seniors (age 55+) in the San Diego County community of Santee, California.
The HFF team worked on behalf of the borrower, Hometown America, to secure the 10-year, fixed-rate, full-term interest-only loan through Freddie Mac. The loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Loan proceeds were used to replenish equity used to acquire the property.
Mission Gorge Villa is situated on 15.9 acres at 8545 Mission Gorge Road about 17 miles northeast of downtown San Diego. Residents have convenient access to all areas of San Diego County via Routes 52 and 125, which are less than one mile from the property. Mission Gorge Villa consists of 100 percent multi-section or larger home sites, which are 100 percent leased. Amenities include a clubhouse, pool and spa, laundry facilities, RV storage and high-quality landscaping throughout the community.
The HFF debt placement team included senior director Zach Koucos and analyst Bharat Madan.
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
About Hometown America: Founded in 1997, Hometown America is a privately held company that owns and operates manufactured housing communities across the country. Today, the company operates more than 60 communities in 10 states.
Learn more at www.hometownamerica.com.
About HFF: HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.