Bellwether Arranges $7M Refi for Austin Manufactured Housing Community
- Feb 11, 2021
Bellwether Enterprise has originated a $7.4 million loan for Country Glen, a 121-site manufactured housing community in Weir, Texas. Senior Vice President Cindy Hannon from the brokerage company’s Atlanta office arranged the Fannie Mae refinancing.
Located at 101 Town St., the community is less than 6 miles from Interstate 35, a little over 7 miles from Southwestern University in Georgetown, Texas, and almost 36 miles north of Austin, Texas, one of the most desirable places to live in the U.S., according to Hannon.
Completed in 1999, Country Glen has been under the same ownership for more than a decade and was fully leased over the past several years. The property consists of mostly one-bedroom single-wide pads and a small number of double-wide homes.
Earlier this year, JLL arranged a $17 million Fannie Mae loan for a portfolio of manufactured housing and recreational vehicle communities in Central Texas. The brokerage team worked on behalf of Lewis Investments.