MHProNews has learned from 9news Caddis Capital Investments LLC of Littleton, Colorado has acquired two manufactured home communities (MHCs) for $7.725 million. Chancellor’s is a 121-home site community in Fountain, Colorado, and Woodland has 75 home sites in Woodland, WA. Using its current investment vehicle, Trico Fund III, Caddis teamed with a New York-based structured finance company with $240 billion assets to utilize mortgage-backed securities for the acquisition.
Tery Larrew, founder and managing partner at Caddis Capital, said, “Affordable housing is a rare commodity in the greater Colorado Springs market. In addition, Woodland is a wonderful setting and the Vancouver metropolitan statistical area is prime for this type of product with a thriving eco-system for baby-boomers who are passionate about pursuing their retirement goals.” ##
(Photo credit: Caddis Capital Investments LLC–Chancellors manufactured home community)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.
