ARA’s National Manufactured Housing Group Executes Sale of Meadowbrook Village

Buyer Acquires a 130 Site All Age Community in Ponca City, Oklahoma

Ponca City, Oklahoma (January 27, 2014) — Atlanta headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, is pleased to announce the sale of Meadowbrook Village Manufactured Home Community in Ponca City, Oklahoma.

ARA National Manufactured Housing Group’s Andrew Shih and Brian Vita (based in Austin, TX) and Todd Fletcher (based in Denver, CO), represented the Seller in the transaction. Shih, Vita, and Fletcher executed the sale of this distressed asset out of receivership. The property was eventually purchased in an all cash transaction with a quick close by an opportunistic local owner and operator.

said Vita “We were able to find a knowledgeable, well capitalized, local investor who understood the market and the tremendous management turnaround potential of the community.”

Built in the 1970’s, Meadowbrook Village is a 130 site, all age community with potential to expand up to 161 sites by finishing utility connections or repositioning homes. The community is serviced by municipal utilities, has paved streets and off street parking, and includes an onsite office, a laundry room, and a storm shelter.

Meadowbrook Village is conveniently located on the North side of Ponca City, OK, on N. Union St., which cuts through the center of the city. Additionally, it is located within two hours of both Oklahoma City and Tulsa, and is in close proximity to several of Ponca City’s major employers such as a ConocoPhillips refinery, a Wal-Mart Super Center, and Dorada Poultry. The residents of Meadowbrook Village also enjoy easy access to several retail and restaurant destinations as well as numerous recreational activities offered by the 26 beautiful parks located within the city.

To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 404.990.4900 or Amy Morris at amorris@ARAusa.com, 404.990.4902; locally, Allison Blount at ablount@arausa.com, 512.637.1229.

 

PRESS RELEASE: The Madison Group

PRESS RELEASE: The Madison Group facilitates the
$1.5 Million Loan for a Texas Manufactured Home Community

 

January 7, 2014

The Madison Group (TMG), a commercial loan broker and loan consultant, announced today that it has arranged the financing for the purchase of a Manufactured Home Community in San Antonio Texas.  The MHP was an older property located in a rural area on the periphery of the city.  TMG was able to provide a 65% LTV loan of $1.5 million with a seller carry back up to 75% CLTV on a 20 year loan due in 5 years at 5.95%.

“The borrower needed to find a financing arm that would give him the maximum term and financing on a park that had additional land, a large number of park owned homes that predated 1976 and a lender that allowed an out of state owner to purchase the property.  All of these details created problems for typical MHP lenders and banks,” said The Madison Group’s Angela Kesselman, who originated the financing.  “The borrower will now be able to move the older homes out of the community and replace them with newer product over the term of the loan, thereby increasing the ability to refinance with a traditional lender in the future.  Kesselman also commented, “We were able to achieve the borrower’s goals on a difficult transaction by giving him a great rate and term along with the flexibility to modify the structure of the park moving forward.”

The financing was arranged by Angela Kesselman of The Madison Group.
The Madison Group (www.madisongroupfunding.com) is a commercial loan broker and consultant specializing in investor properties nationwide. TMG is a successful firm that provides flexible and reliable capital for real estate acquisitions, refinances, and re-capitalizations.   TMG specializes in the financing of investment properties including: apartments, mobile home parks, office, retail, industrial, self-storage.  Established in 2002, The Madison Group has been able to help a large number of commercial real estate owners meet their financial goals.  Contact Angela at 435-659-2200 or email angela@madisongroupfunding.com