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12/15/16
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Hometown America has obtained $5.8 mil in financing for Oak Tree Ranch, a 126-home site, all-age manufactured home community in the San Diego County community of Ramona. The five-year, fixed-rate, full-term, interest-only acquisition loan was financed post-close. It was arranged by Zach Koucos of HFF and funded through Aegon USA Realty Advisors LLC.
Oak Tree Ranch is located on a 93-acre site in Ramona, approximately 35 miles northeast of downtown San Diego. The property is less than one mile from California State Routes 67 and 78, providing easy access to neighboring cities in San Diego County, including Escondido, Poway, Rancho Bernardo, downtown San Diego and the California coast.
Originally developed with 79 home sites, an additional 47 sites were added by the previous ownership, with entitlements for up to 250 home sites total. Hometown America plans to bring in new, high-quality multi-section manufactured homes for sale to continue the expansion of the community. Amenities at Oak Tree Ranch include a historic home used as the leasing office, a clubhouse, swimming pool, spa, laundry, RV/boat storage, community garden and outdoor entertainment grounds with event pavilion.
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