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2/25/26
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In a recent manufactured housing financing deal, two mature communities in the southern portion of the Napa Valley were refinanced with new permanent loans totaling $35.6 mil. The properties offer over 400 manufactured homesites maintained with onsite management, with both offering a club house, pool, sports courts, additional RV storage, and other amenities.
Gantry’s Patrick Barkley, Principal, Andy Mekjavich, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, represented the borrower, an experienced, privately held sponsor-operator. The five-year, non-recourse, fixed rate loans were funded through an insurance company lender. Gantry will service the loans on behalf of the lender.
According to Barkley, both these assets were originally developed in the 1970s, and through key locations and attentive management continue to thrive with stable, time-tested cash flows in a housing category with strong long-term fundamentals supported by relative affordability.
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