HFF arranges $7.44 million in financing for two Southern California manufactured home communities

 SAN DIEGO, CA – HFF announced today that it has arranged financing totaling $7.44 million for Linda Vista Estates (top left photo) and Coast MHC (middle right photo), two senior (55+) manufactured home communities in Hemet and Harbor City, California.

HFF worked exclusively on behalf of Dzikowski Investments LLC to secure the two 30-year, fixed-rate Fannie Mae DUS loans. 

A $2.43 million refinancing was arranged for Linda Vista and a $5.01 million loan was secured for the acquisition of the fee simple interest in Coast MHC. 

The borrower previously owned the leasehold interest in Coast MHC and has operated the community for several years.

Linda Vista Estates has 111 home sites and is 94 percent leased.  Community amenities include a clubhouse, swimming pool, jacuzzi, shuffleboard, car wash, billiards room and laundry facilities. 

 The 12.58 acre site is located on Florida Avenue east of downtown Hemet, a community about equidistant between San Diego and Los Angeles.

Coast MHC is a fully occupied community with 95 home sites.  Residents have access to a clubhouse, swimming pool, library, shuffleboard court and laundry facilities.  The property is situated on 8.4 acres in Harbor City, located in the South Bay area of Los Angeles.

The HFF team representing Dzikowski Investments LLC was led by associate director Zach Koucos (bottom left photo)

“This was a challenging transaction where we had to manage the recapitalization of two properties simultaneously with the acquisition of the fee simple interest in Coast MHC., not to mention that a 30-year fixed-rate, non-recourse financing with cash-out is very unique today,” said Koucos.

Dzikowski Investments LLC is a multi-generational, family-run operation experienced in all phases of the manufactured housing industry including acquisition, rehabilitation, home sales and management.

Contacts:

Zachary E. Koucos, HFF Associate Director, (858) 812-2351, zkoucos@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,  

krmurphy@hfflp.com