Southern California manufactured housing community refinanced
JLL arranges $6.9M loan for the Orange County property
SAN DIEGO, January 28, 2020 – JLL Capital Markets announced today that it has arranged the $6.9 million refinancing of Goforth MH Village, a 73-home site, Class A, age 55+ manufactured home community in Orange, California.
JLL worked on behalf of a private investor to secure the 10-year, fixed-rate loan with interest-only payments.
Goforth MH Village is located at 1801 E. Collins Avenue immediately west of the Costa Mesa Freeway, which provides connectivity to other major highways throughout Orange County and Southern California. Originally constructed in 1958, the property has remained at or close to 100% occupancy for many years, and features a community clubhouse with kitchen, swimming pool and outdoor picnic area.
The JLL Capital Markets debt placement team representing the borrower was led by Senior Director Zach Koucos.
“This new financing will enable ownership to continue to provide a quality community for their residents, and enhance their investment for many years to come,” Koucos said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.