Issue link: https://read.dmtmag.com/i/370270
GE Capital Real Estate There is a reason why Manufactured Home Community owners – from single property to port- folio investors – finance with GE Capital Real Es- tate: It's all about Service. For over 25 years, GE Capital Real Estate has been providing community owners with financing to meet their specific needs. The company is a premier, full service financing group that has been committed to the industry through all market cy- cles - even during the recent recession. Critical to serving the industry is understanding customers' long and short term objectives and providing them customized financing to help meet their goals. Sometimes it means providing securitized financ- ing that offers longer term fixed-rate loans for sta- bilized properties or structuring bridge loans to help achieve stabilization through value creation. Other times it means helping investors re-leverage to access capital for future growth. Whatever the financing need, GE Capital Real Estate works to develop sound, comprehensive solutions. The GE Capital Real Estate team works with clients who are new to the industry or long-time investors. With a debt portfolio of over $1.8 bil- lion in Manufactured Home and RV Resort Com- munities, the company has the flexibility and wherewithal to meet a wide range of client needs. They are known for building enduring client rela- tionships. With the help of financing from GE Capital Real Estate, clients who started with one or two communities have built some of the largest portfolios in the industry. At GE Capital Real Estate, the Manufactured Home Communities group is a dedicated team with a combined forty years of experience serving community investors. The sales, underwriting and closing specialists understand the nuances of the industry. It all makes for a very efficient fi- nancing process. GE Capital Real Estate is committed to growing its lending business and Manufactured Home Communities are a big part of that. The company serves the investment community by offering ac- cess to a team with deep domain expertise, out- standing service and surety of execution. A premier financing resource, GE Capital Real Es- tate is committed to helping its clients succeed. Although financial markets have not quite reached the frenzied levels seen prior to 2007- 08, owners of manufactured housing communi- ties have an abundance of options when seeking long-term permanent financing. All of the usual suspects remain very hungry for product; but, perhaps the most notable new option is Freddie Mac's program for financing manufactured home communities (MHC). Although Freddie is a relative newcomer to MHC finance arena, Freddie Mac is no stranger to multifamily finance, and the MHC lending team is comprised of a group of seasoned manu- factured housing veterans. Committed to a long- term investment in our industry, Freddie Mac's program promises a "bigger box" when determin- ing the properties that may qualify. As with its multifamily program, Freddie Mac deploys its capital through select Program Plus® Seller/Ser- vicers. For the moment, Freddie Mac has cho- sen to limit its number of MHC lenders to a select few from experienced institutions within the Pro- gram Plus Seller/Servicer network. Grandbridge Real Estate Capital is proud to be one the hand- ful of Seller/Servicers approved for MHC fi- nance. Not to be outdone by its chief GSE multifam- ily competitor, Fannie Mae recently announced a number of enhancements to its DUS® (Dele- gated Underwriting and Servicing) manufactured housing loan program; including the elimination of its MHC spread premium—meaning there is virtually no difference in the financing terms and pricing available for Fannie Mae's MHC loans than from the terms and pricing available for high quality apartments financed through Fannie Mae. Fannie Mae loans are available through Fannie Mae's network of DUS lenders, which includes Grandbridge. Banks have also found MHC finance to be a safe and sound investment. Community owners seeking more flexibility, 5- to 7-year terms, or user friendly prepayment terms, have found banks are an excellent alternative to the 10-year, fixed rate programs so popular with other lenders. Grandbridge enjoys an ideal position as a subsidiary of BB&T, a nearly $200 billion banking institution with a strong appetite for fi- nancing quality MHCs on a nonrecourse basis. Grandbridge acts as the exclusive lending chan- nel for BB&T's nonrecourse lending program for income properties. The CMBS lenders have come back to our market with a vengeance, and Grandbridge rep- resents a host of CMBS participants for manu- factured home community owners seeking long-term, nonrecourse financing at thin mar- gins over the 10-year swap rate. A mainstay in long-term, nonrecourse fi- nancing, life insurance companies continue to be a viable option for those seeking conservative fi- nancing and flexible loan terms. Once again, Grandbridge, with its broad capital provider base that includes more than 50 life insurance com- panies throughout the country, finds itself uniquely positioned to serve its clients. In summary, Grandbridge has numerous op- tions for its clients and their range of financing needs. Grandbridge, with its vast array of finan- cial solutions, always takes great pride in setting itself apart from the "one-size fits all" lender. Now more than ever, we possess the ability to clear the market for clients and find the best pos- sible terms to fit each client's financing needs. For more information on Grandbridge contact senior vice president Chris Dyson at 205.978.1843 or by email at cdyson@gbre- cap.com, grandbrige.com Grandbridge Real Estate Capital inancial ocu$ F F 2014