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Raul F. Rodriguez Of CREI Holdings Secures $110.5M Construction Loan For Mobile Home Park Redevelopment

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FINANCED
$110,500,000

Florida

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Mobile Home
Financed 12/11/2024
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Property Image
FINANCED

Raul F. Rodriguez Of CREI Holdings Secures $110.5M Construction Loan For Mobile Home Park Redevelopment

11033 Northwest 2nd Terrace

See Similar Deals
Mobile Home
Financed 12/11/2024
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Mobile Home
Transaction Type:Loan

The property involved in this transaction is a 94.5-acre mobile home park located at 11033 Northwest 2nd Terrace in Sweetwater. The asset is intended for redevelopment, which includes a construction loan amount of $110,500,000 secured for the project.

Summary of transaction details:

  • Property Type: Mobile Home Park
  • Transaction Amount: $110,500,000
  • Lender: J.C. de Ona - Centennial Bank
  • Landlord: Raul F. Rodriguez - CREI Holdings
  • Loan Type: Construction

The transaction features notable individuals, including Raul F. Rodriguez representing CREI Holdings and J.C. de Ona from Centennial Bank overseeing the lending aspect of the deal. The loan will support the proposed redevelopment plan that aims to introduce senior affordable and workforce housing along with community amenities such as a K-12 school and a healthcare facility.

Players

Centennial Bank
Centennial Bank
LENDER

Details

FINANCED
IMAGE: Raul F. Rodriguez & J.C. de Ona DATE: 12/11/2024 ADDRESS: 11033 Northwest 2nd Terrace MARKET: Sweetwater ASSET TYPE: Mobile Home Park ~ ACRES: 94.5 LENDER: J.C. de Ona - Centennial Bank (@my100bank) LANDLORD: Raul F. Rodriguez - CREI Holdings LOAN AMOUNT: $110,500,000 LOAN TYPE: Construction NOTE: CREI Holdings secured a $110.5M construction loan from Centennial Bank for the potential redevelopment of the 94.5-acre Li’l Abner Mobile Home Park in Sweetwater. The proposed community development plan includes senior affordable and workforce housing, a K-12 school, healthcare facility, community center, and park.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$110,500,000.00

Monthly NOI$736,666.67
Monthly Debt Service$698,435.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00