The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 18, 2019
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



BAY AREA NEWS
Printer-friendly Version   Email an Associate
Santa Rosa Manufactured Home Community Refinanced with $13.7 Mil Freddie Mac Loan

10/17/17

An OC-based private investor has obtained $13.7 mil in permanent refinancing for Mountain View Mobile Estates, a 109-site manufactured home community in Santa Rosa. The property is located at 2860 Santa Rosa Ave, just east of Hwy 101 on the south side of the city.

MetroGroup’s J.D. Blashaw arranged the early refinancing through Freddie Mac. The borrower is MV Estates LLC. The 10-year, non-recourse loan is priced at a rate of 4.10% and has a loan-to-value of 64%.

“The sponsor sought to take advantage of the current interest rate environment through an early refinance,” explains Blashaw, who notes that the sponsor’s existing loan on the property was originally set to mature in early 2018. “Interest rates have remained historically low for the last several years and have only recently begun to slowly inch upward.”

According to the Mortgage Bankers Association’s September 2017 Mortgage Finance Forecast, interest rates are anticipated to see a consistent rise from Q4 of 2017 through 2019.

“This has resulted in an influx in refinance activity and early refinancing as property owners and investors are seeking to lock in rates now, while they remain historically low and in anticipation of future increases,” says Blashaw. “This is a trend that we anticipate will continue throughout the remainder of 2017 and well into next year.”






Return to the Archive page


 


 


 
The Foto Finisher

 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media