Capital One Provides $15.3M Acquisition Loan for Manufactured Housing Community in Kalamazoo, Michigan

KALAMAZOO, MICH. — Capital One has provided a $15.3 million Fannie Mae loan for the acquisition of Country Acres Village in Kalamazoo. The 320-space manufactured housing community (MHC) is restricted to residents 55 years of age and older. Built in three separate phases between 1976 and 1990, the community features amenities such as an indoor pool and spa, fitness center and community building. Damon Reed of Capital One originated the 10-year loan, which includes a 30-year amortization schedule. The sponsor is an investor that operates 10 MHC communities in Washington and Oregon.