Casa Grande East

Transaction description

Grady Seldin and George Gianoukakis of PSRS arranged the acquisition financing for a 37-site manufactured housing community in Casa Grande, Arizona. The all-age park includes a mix of park-owned and tenant-owned homes, with approximately 56% park-owned, well above typical lender comfort levels and a key hurdle in the financing process.

PSRS secured a fixed-rate loan through one of its correspondent life insurance company lenders. The strength of PSRS’s long-standing relationship with the lender and the repeat borrower’s successful track record operating manufactured housing communities in the local market was critical to getting this deal across the finish line. PSRS outperformed banks specializing in the sector and worked directly with the investment sales team to ensure a smooth process, closing the acquisition on time.