Vincent Langan, our loan officer at Capmark, was extremely courteous, efficient, and thorough in his handling of the refinance of our mobile home park
Mount Dora, FL (Vocus) January 30, 2009
Capmark Finance Inc. (Capmark Finance) originated $3,400,000 in fixed-rate, permanent debt through its Fannie Mae DUS® program for the refinance of Hibiscus Mobile Home Community, an age-restricted "55-plus" manufactured home community in Mount Dora, Fla. The 80-percent LTV loan featured a fixed rate of 6.15 percent with a 10-year term and 30-year amortization.
Located on nearly 15 acres at 1 Hibiscus Avenue, Hibiscus Mobile Home Community is a 153-space community comprised of 144 manufactured home sites, eight RV sites and one single-family home. Amenities include a clubhouse, shuffleboard, laundry facility and storage area. The property is 99 percent occupied.
Assistant Vice President Vincent M. Langan of Capmark's Birmingham, Ala., office originated the transaction for borrower Hibiscus Florida Properties LLC. The borrower has the ability to place additional financing on the property via Fannie Mae's supplemental loan program.
"Vincent Langan, our loan officer at Capmark, was extremely courteous, efficient, and thorough in his handling of the refinance of our mobile home park," said Richard and Karen Stewart, principals of Hibiscus Florida Properties LLC.
"Our transaction was complicated; and he and Capmark kept us on track, handled many tricky details, and closed our loan on exactly the projected date, for the projected amount, and with terms even better than were first quoted. We are extremely pleased to recommend Vincent and Capmark highly."
Capmark is a diversified company that provides a broad range of financial services to investors in commercial real estate-related assets. Capmark has three core businesses: lending and mortgage banking, investments and funds management, and loan servicing. Capmark operates in North America, Europe and Asia.
Capmark Finance Inc., the U.S. real estate lending and mortgage banking operations of Capmark, has access to multiple capital sources and offers a full range of financing solutions and resources. Capmark Finance is a direct lender, a correspondent for insurance companies, pension funds and other capital markets conduits and one of the leading approved lenders for Fannie Mae, Freddie Mac and HUD/FHA.
With a servicing portfolio of approximately $363.2 billion as of Sept. 30, 2008 Capmark Finance is one of the industry's leading loan servicers.
Capmark Investments LP, the investments and funds management operation of Capmark, is an established manager of equity real estate and mortgage-related investments in the public and private markets with approximately $9.8 billion in investments under management as of Sept. 30, 2008.
For more information about Capmark, visit http://www.capmark.com.
Capmark Finance Licenses: CA: CA Dept of Corporations Finance Lender and Broker License (lending) and CA Dept of Real Estate, Real Estate Broker License #00398180 (brokering); MI: Capmark Finance Inc., Michigan Real Estate Broker, Phone 248-208-3460; NV: Capmark Finance Inc., 200 S. Virginia St., Suite 800-Office #804, Reno, NV, Phone 775-686-2490; NY: Capmark Finance Inc., New York Real Estate Broker.
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