Hunt Real Estate Capital Funds $41.4M in Fannie Mae Loans for Manufactured Housing Communities in Arizona, Utah

TEMPE, ARIZ., AND UINTAH AND ROY, UTAH — Hunt Real Estate Capital has funded three Fannie Mae conventional loans, totaling $41.4 million, to refinance three manufactured home communities in Arizona and Utah. All three transactions lowered interest rates for the borrower and provided cash-out options.

The three communities, which are 100 percent mission driven and share the same management company, include:

• Tempe Cascade Mobile Home Estates, a 273-site property built in 1971 in Tempe
• Cottonwood Estates, an 83-site community developed in 1976 in Uintah
• Midland MHC, a 224-site first developed in 1938 and redeveloped in 1973 in Roy

The loans for Tempe Cascade Mobile Home Estates and Cottonwood Estates share the same terms: a fixed interest rate and seven-year term. The Midland MHC loan features a fixed interest rate, 10-year term and two years of interest-only payments.

Tom Houlihan of Sterling Financial Mortgage & Investment arranged the transactions.