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.”
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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