{"id":551,"date":"2021-04-07T00:00:00","date_gmt":"2021-04-07T00:00:00","guid":{"rendered":"http:\/\/listselfstorage.com\/us\/industry-insights\/?p=551"},"modified":"2021-04-07T00:00:00","modified_gmt":"2021-04-07T00:00:00","slug":"jpmorgan-chase-originates-489m-loan-for-mhc-portfolio-deal","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/jpmorgan-chase-originates-489m-loan-for-mhc-portfolio-deal\/","title":{"rendered":"JPMorgan Chase Originates $489M Loan for MHC Portfolio Deal"},"content":{"rendered":"

<\/p>\n

Horizon Land Co. has spent $743.3 million to buy a portfolio of manufactured housing communities, a self storage property and RV pads across the country. The company financed the acquisition through a JPMorgan Chase-originated $488.6 million first lien acquisition loan, an additional $40 million mezzanine financing and $258.8 million of sponsor equity.<\/p>\n

The portfolio comprises 93 manufactured housing communities totaling 11,129 pads that include:<\/p>\n

– 10,897 manufactured housing pads
– 194 RV pads
– 38 site-built homes
– a self storage facility with 136 units.<\/p>\n

The collection spans 13 states and 29 markets—including Dallas; St. Louis; Austin, Texas; and Omaha, Neb. The assets were completed between 1920 and 2000.<\/p>\n

Given the growing demand for affordable housing and a significant lack of new supply, the manufactured housing sector is experiencing a surge in investor interest. The industry proved its resilience last year, when both rents and sales activity were on the rise despite pandemic-induced hurdles.<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Horizon Land Co. has spent $743.3 million to buy a portfolio of manufactured housing communities, a self storage property and RV pads across the country. The company financed the acquisition through a JPMorgan Chase-originated $488.6 million first lien acquisition loan, an additional $40 million mezzanine financing and $258.8 million of sponsor equity. The portfolio comprises 93 manufactured housing communities totaling 11,129 pads that include: – 10,897 manufactured housing pads – 194 RV pads – 38 site-built homes – a self storage facility with 136 units. The collection spans 13 states…<\/p>\n","protected":false},"author":1,"featured_media":552,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/551"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=551"}],"version-history":[{"count":0,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/552"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}