Hacienda San Luis MHC – San Luis, AZ

June 13, 2007 - Union Capital Investments, LLC provided permanent financing in the amount of $3,100,000 for the refinance of Hacienda San Luis MHC. The loan is for a five year term with a 30 year amortization period. The 6.57% fixed rate loan is based on a 44% loan-to-value with debt service coverage of 2.00. The Borrower owns and manages nineteen parks having a total of 3,300 sites located in California, Arizona, Nevada, and Texas.

Hacienda San Luis MHC is a 252-space all-age manufactured housing community located in San Luis, Arizona, just miles from the U.S.-Mexico border to the south and west. The park is located on 43.5 acres, providing for a density of 4.5 homes per acre. 84% of the sites are occupied by single-section mobile homes, and the rest are occupied by multi-section homes or RVs. Amenities include an office and laundry facilities. Rents range from $230-$280 and include basic cable. The community has continuously maintained a level of occupancy in excess of 92%, which is the current occupancy level.