Angus Keith Acquires Manufactured Housing At 73450 Country Club Drive For $37 Million

The asset involved in this transaction is a manufactured housing property located at 73450 Country Club Drive in the Palm Desert market. The sale price for the asset was $37,000,000, with 359 units, resulting in a price per unit (PPU) of $103,064. A loan amount of $24,247,000 was secured with loan terms being a Fannie Mae 10-year fixed rate loan.

Summary of transation details:

• Property Type: Manufactured Housing
• Transaction Amount: $37,000,000
• Units: 359
• Price Per Unit: $103,064
• Loan Amount: $24,247,000
• Loan Terms: Fannie Mae 10-year fixed rate
• Buyer: Angus Keith
• Seller: Estate of Marie Befeld
• Brokers: Jeff Benson & Sam Neumark - NorthMarq
• Mortgage Broker: Alex Kane - NorthMarq

This transaction involved key representatives from NorthMarq, with Jeff Benson and Sam Neumark acting as brokers. Alex Kane served as the mortgage broker for the deal, coordinating the financing aspects of the transaction. The parties involved were instrumental in executing the sale of the manufactured housing asset.