Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $9.3 million permanent loan to refinance maturing debt on two Arizona manufactured housing and RV communities. The parks encompass 285 pads including mobile home units, long-term RV pads, and tourist RV spaces. The properties are in Apache Junction and Mesa. Both parks feature recently upgraded amenities, including club houses, swimming pools, and pickleball or shuffleboard courts, along with proximity to a range of local attractions.

Gantry’s Patrick Barkley, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, with the firm’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed rate loan was secured from a regional credit union on Gantry’s extensive roster of commercial mortgage lenders and features an upfront interest only term transitioning to 30-year amortization and prepayment flexibility tapering from yield maintenance to at par for across the life of the loan.

According to Gantry’s Patrick Barkley, “Arizona’s manufactured housing and RV resort properties remain a preferred residential and lifestyle destination for snowbirds, tourists, and retirees alike. Gantry has developed expertise in underwriting this unique asset class and identified a roster of lenders specializing in financing these properties. Both these assets have recently undergone extensive site improvement and amenity enhancement programs and enjoy stable year-round and strong seasonal occupancy. Leveraging these strengths with an experienced sponsor, we were able to work with one of our top lender choices for financing manufactured housing to secure a permanent loan optimized with an attractive fixed rate, partial term interest only and prepayment flexibility.