PHOENIX, ARIZONA (January 24, 2022) – Alex Quenzler, vice president Northmarq’s Phoenix debt/equity team secured acquisition financing for Lake Livingston RV Park. The 42-site manufactured housing community is located at 739 FM 2457 in Livingston, Texas. The transaction was structured with a 5-year term with a 20-year amortization schedule. Northmarq secured the permanent-fixed loan for the borrower through its relationship with a regional bank.
The scenic property lies three miles from Lake Livingston. The tree-filled park consists of 8.214 acres with 2.1 acres of adjacent property for expansion. Features include a saltwater pool, fire pit and onsite laundry and shower for guests.
“NorthMarq continues to see a strong demand in the southeast for both Mobile Home & RV Communities due to their steady cash flow and ability to attract all age groups. Through one of our close lending relationships with a regional bank, we were able to secure a high leveraged, fixed rate product for our client,” said Alex Quenzler.
Operating fundamentals for manufactured housing communities saw continued growth last year. The pace of shipments gained momentum, occupancy rates rose, rents went higher and the investment marketed posted continual gains. The acquisition of Lake Livingston RV Park comes off the heels of a 35 percent spike of manufactured housing community sales in the third quarter of 2021. With the states with the largest inventories of communities—including Florida, California and Texas—led the way for total transaction volume. Read more about the market in Northmarq’s Manufactured Housing Market Report.