MHProNews has learned Franklin Management Group of Newport News, Virginia has arranged $18.8 million in refinancing for five of the more than 20 manufactured home communities (MHCs) it owns. The long-term fixed rate non-recourse recapitalization was arranged by CBRE (Coldwell Banker Richard Ellis)-Hampton Roads.
The five properties, comprising 2,600 homesites, according to dailypress, include Bullock Mobile Home Park in Suffolk; Grassy Creek Mobile Home Park in Harrisonburg; Hollins Mobile Home Park in Roanoke; Riverland Mobile Home Park in Salem; and Shattalon Mobile Home Park in Winston-Salem, North Carolina. ##
(Photo credit: Tri-Star Estates)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.
