$300m in financing secured for over 40 manufactured housing communities
JLL Capital Markets has arranged more than $300 million in acquisition financing for a 10,000-plus pad portfolio of manufactured housing communities.
JLL worked on behalf of the borrower to secure the loans.
The portfolio consists of more than 40 assets located across six different states with an average occupancy rate just under 90 percent and a mix of MH, RV and apartment/single-family home sites.
“This is a generational opportunity for our best-in-class sponsor, and we cannot wait to watch them unlock the tremendous upside in this portfolio through their unmatched operational expertise. JLL is thrilled to be involved in providing best-in-market terms and flexibility for this large portfolio financing,” said Tony Nargi, managing director on the JLL Capital Markets Debt Advisory team.