Hunt Mortgage Provides Fannie Mae Loan for Trails of Oak Hills MHC

texas_austin_trails_of_oak_hills_mhc__mhvillage__creditFinancing commercial real estate throughout the U. S., Hunt Mortgage Group, headquartered in New York City, has arranged a $5.3 million Fannie Mae loan to refinance The Trails of Oak Hills manufactured home community (MHC) in Austin, Texas, the property of Wier Hills Ltd., a Texas limited partnership backed by Charles “Mac” Spellmann, Jr. Mac developed the community 15 years ago and has owned and operated it since, as einnews tells MHProNews.

Noted Mark Besharaty, Director at Hunt Mortgage Group, “Mac has over 25 years of experience in both owning and operating manufactured housing communities and currently owns two such properties with a total of 335 sites.”

The Trails is set on 51.57 acres with 180 home sites, none of which are for recreational vehicles, and 90 percent of the sites will accommodate a multi-section home. Most of the homes are no more than 15 years old, and all are professionally skirted.

This is a quality property that has been performing very well,” added Carl Pankratz, Vice President of Originations at Hunt Mortgage Group. “Over the past 24 months, occupancy at The Trails of Oak Hills has averaged 98% with no single month below 97%, and, the property is currently full. We were pleased to deliver on this transaction.”

While a clubhouse building is the only permanent structure, amenities include an outdoor swimming pool, playground and fishing pond.

Hunt Mortgage Group recently expanded its MHC platform as one of its new asset classes. ##

(Photo credit: MHVillage–The Trails of Oak Hills MHC in Austin Texas)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top
Glastrennwände
blumen verschicken Blumenversand
blumen verschicken Blumenversand
Reinigungsservice Reinigungsservice Berlin
küchenrenovierung küchenfronten renovieren küchenfront erneuern