SAN DIEGO, CA– HFF announced today that it has arranged $8.2 million in financing for Villa Cajon, a 125-home site manufactured home community in El Cajon, California.
HFF worked on behalf of the borrower, Kingsley Management, to secure the 25-year, fixed-rate, fully-amortizing loan through Lincoln Financial Group. HFF will also service the loan.
Villa Cajon is located at 255 East Bradley Avenue just off the San Vicente Freeway, approximately 20 minutes from downtown San Diego. The all-ages community is 100 percent occupied and features a clubhouse, swimming pool, game room, playground and picnic area.
The HFF team representing the borrower was led by director Zach Koucos.
“This well-maintained property has demonstrated consistent demand, and excellent occupancy history. The lender recognized the strength of this asset and offered a very compelling long-term rate,” Koucos said.
Founded in 1973, Kingsley Management Corp (KMC) is one of the largest privately-owned manufactured home community operators in the nation. KMC oversees more than 40 communities in the states of Texas, New Mexico, Colorado, Utah, Arizona, Nevada, Idaho and California.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.