JLL Arranges $18M Loan for San Francisco-Area Manufactured Homes
- Dec 08, 2020
Hometown America has received a $17.5 million acquisition loan for Eden Roc, a 200-site manufactured home community in Hayward, Calif. JLL originated the 10-year Fannie Mae debt, which features a fixed-rate and full-term interest-only.
Located at 28362 Bradshire Road, the community is almost 2 miles from Interstate 880, 10 miles from Eden Medical Center, and 10 miles from the San Mateo-Hayward Bridge, which offers access to Oakland, Calif., San Francisco, and the Silicon Valley. Additionally, Eden Roc is close to other manufactured housing communities and some 3 miles from big-box retail and dining options. Completed in 1965 on a 21-acre site, the fully occupied property also features a clubhouse, fitness center, pool, spa, sauna, and playground.
Managing Director Zach Koucos and Analyst Bharat Madan from JLL arranged the financing. Recently, Koucos was part of a different JLL team that closed a $46.4 million portfolio loan for a manufactured housing portfolio comprising 16 communities in the Phoenix and one in Tucson, Ariz., metropolitan areas.