SAN DIEGO, CA – The San Diego office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a $3.1 million non-recourse financing, including additional cash proceeds, for Eastwoods Estates (top left photo), a 160-home site, all-ages manufactured housing community in Lima, Ohio.
Working on behalf of Evergreen Communities, LLC, HFF associate directors Zach Koucos (middle right photo) and Zack Holderman (lower left photo) placed the 10-year, 5.29% fixed-rate loan with M&T Realty Capital (Fannie Mae DUS).
Loan proceeds will be used to replace maturing debt, cover closing costs and repatriate reserves for the property with the additional cash proceeds.
Eastwoods Estates is situated on 116 acres at 3700 Harding Highway just east of Interstate 75 in Lima, Ohio. Built in five phases concluding in 2000, the property features 160 home sites and can accommodate additional development of up to 185 home sites. Eastwoods Estates is currently 91% occupied.
Evergreen Communities, LLC is a national owner/operator of manufactured housing communities with a current portfolio of more than 4,600 home sites in 31 properties nationwide.
Contacts:
Zach Koucos, HFF Associate Director, (858) 812-2351, zkoucos@hfflp.com
Zack Holderman, HFF Associate Director, (858) 812-2350 zholderman@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
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