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December 16, 2018
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Hometown America Secures Santee Manufactured Home Community with $8.6 Mil in Financing


Hometown America has obtained $8.6 mil in financing for Mission Gorge Villa, a 140-home site, Class A manufactured home community for seniors (age 55+) in the San Diego County community of Santee. The property is situated on 15.9 acres at 8545 Mission Gorge Rd, about 17 miles northeast of downtown San Diego.

Residents of Mission Gorge Villa have convenient access to all areas of San Diego County via Routes 52 and 125, which are less than one mile from the property. The complex consists of 100% multi-section or larger home sites, which are fully leased. Amenities include a clubhouse, pool and spa, laundry facilities, RV storage and high-quality landscaping throughout the community.

HFF’s Zach Koucos and Bharat Madan arranged the 10-year, fixed-rate, full-term interest-only loan through Freddie Mac. The loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans. Loan proceeds were used to replenish equity used to acquire the property.

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