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Capital One Closes $48.8M Refi for Cypress Manufactured Home Community
Capital One provided a $48.8 million Fannie Mae structured adjustable-rate loan to refinance a leasehold interest in Lincoln Center Mobile Home Park, a 305-unit manufactured housing community (MHC) in Cypress, CA. The 10-year adjustable-rate loan has six years of interest-only payments, followed by a 30-year amortization schedule.
The 92%-occupied Lincoln Center was developed in 1970. It has a pool, clubhouse with recreation room and stage, playground, and a basketball court.
The sponsor, Anaheim, CA-based the Kort and Scott Financial Group, own 38 MHC communities totaling 8,600 MHC sites in California, Colorado, and Arizona. Capital One’s Chad Thomas Hagwood originated the transaction, and Brandon Pate managed the transaction process on behalf of Capital One.
Hagwood says, “The sponsor is using the proceeds to pay off their existing loan and secure funds to further enhance this already great community.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


