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DECEMBER 2016 28 THE JOURNAL Wells Fargo Provides $82 Million To A Joint Venture For Refinancing MHC's in Six States Wells Fargo Commercial Real Estate recently provided $82 million to a joint venture of Federal Capital Partners and Horizon Land Co., LLC for the refinancing of 21 Manufactured Home Communities in six states, totaling over 3,100 home sites. "Lending for manufactured home communities is an important focus for Wells Fargo Commercial Real Estate," said Lew Grace, an execu- tive vice president in Wells Fargo's commercial real estate group. "We are excited to work with longstanding customer, Federal Capital Part- ners, and their operating partner and new customer Horizon Land Com- pany on this portion of their large and growing portfolio of communities." The portfolio—which is more than 90 percent occupied and contains 3,178 home sites—spans across Delaware, Maryland, North Carolina, New Jersey, Pennsylvania, and South Carolina. The communities in- clude Tilton Terrace with 228 home sites in Egg Harbor, NJ, Delsea Woods with 131 homes sites in Vineland, NJ and Dorchester Village with 312 home sites in Charleston, SC. "As a result of the strong growth of our business and value creation in these properties, Horizon is pleased to have established a new rela- tionship with Wells Fargo, a key capital provider of our partner, Fed- eral Capital Partners, and work with them on this transaction," said Drew R. Odabashian, Horizon's CIO. HomeCarePlus "The Perfect Addition to Your Home Sales" An Exclusive Warranty For: Manufactured/Modular/ Park Model Homes "A Complete Package Designed for Today's Homes" HomeCarePlus A Warranty Program designed to eliminate Costly Repair Expenses on: Structure, Electrical, Plumbing, Heating, A/C & Appliances HomeCarePlus (800) 851-3738 Office (651) 458-2905 Fax diversifiedprofits@comcast.net THANK YOU!!! THANK YOU!!! We would like to thank all our advertisers and readers for supporting us over the past 36 years!! We appreciate you all!! Our office will remain open until February 28, 2017.