Search
 

Capital One Multifamily Closes Fannie Mae Loan

PHOENIX—Capital One Multifamily Finance closed a Fannie Mae fixed loan totaling $5.5 million for the acquisition of Peoria Mobile Estates, a 125-pad manufactured housing community for seniors in Peoria.

By Kristian Seemeyer | Updated on June 23, 2014

PHOENIX—Capital One Multifamily Finance closed a Fannie Mae fixed loan totaling $5.5 million for the acquisition of Peoria Mobile Estates, a 125-pad manufactured housing community for seniors in Peoria.  Damon Reed, senior vice president and director of Capital One Multifamily’s manufactured home community finance division, originated the deal. The borrower, an affiliate of Saunders and Amos, LLC, is a repeat customer, with more than 25 years experience acquiring, managing, and developing manufactured housing communities. It owns seven MHCs with 947 spaces.

Built in 1979, Peoria Mobile Estates is a 4+ rated park with such competitive amenities as a clubhouse, pool, spa, tennis courts, RV storage, and shuffleboard. Its homes vary in age from the 1970s to 2000. The neighborhood is primarily residential and the property is within walking distance of shopping.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.