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6/20/25
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A portfolio of five manufactured housing communities located in Arizona, California and Iowa have been refinanced with a new permanent loan for $28.25 mil. The fully stabilized assets offer a total of 687 pads across properties in Sierra Vista and Casa Grande, AZ, Hemet and San Bernardino, CA, and Atlantic, IA.
The financing was arranged by Patrick Barkley and Chad Metzger with Gantry on behalf of the borrower, a private real estate investor. The five-year, fixed rate loan was funded through an institutional balance sheet lender and features full-term interest only. Gantry will service the loan.
According to Barkley, manufactured housing continues to enjoy strong performance, and this portfolio of legacy assets had appreciated significantly in value. The borrower wanted the loan to access their developed equity for redeployment into new asset purchases.
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