PHOENIX—Capital One Multifamily Finance closeda Fannie Mae fixed loan totaling $5.5 million forthe acquisition of Peoria Mobile Estates, a 125-pad manufacturedhousing community for seniors in Peoria. Damon Reed, seniorvice president and director of Capital One Multifamily'smanufactured home community finance division, originated the deal.The borrower, an affiliate of Saunders and Amos,LLC, is a repeat customer, with more than 25 yearsexperience acquiring, managing, and developing manufactured housingcommunities. It owns seven MHCs with 947 spaces.

Built in 1979, Peoria Mobile Estates is a 4+ rated park withsuch competitive amenities as a clubhouse, pool, spa, tenniscourts, RV storage, and shuffleboard. Its homes vary in agefrom the 1970s to 2000. The neighborhood is primarilyresidential and the property is within walking distance ofshopping.

The fixed-rate loan has a 10-year term, 9.5 years of yieldmaintenance, and two years of interest-only payments, followed by30 years of amortization, payable on an actual/360 basis.