Manufactured Housing Community - Debt

NorthMarq Capital

NorthMarq Capital’s Tampa office finalizes $5.25 million refinance of a 55+ MHP in DeBary, Florida

TAMPA (December 11, 2018) –NorthMarq Capital’s Tampa regional office arranged the $5.25 million refinance of Highland Country Estates, a 55+ age manufactured housing property consisting of 235-units (27.67 acres) and located at 830 North Charles Richard Beall Boulevard in DeBary, Florida. The permanent-fixed loan was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. 

“The request was for a very low-leverage loan and our correspondent life company won the deal with a very favorable interest rate,” noted Bob Hernandez, senior vice president/managing director of the Tampa office. 

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.