Issue link: https://read.dmtmag.com/i/672763
MAY 2016 10 THE JOURNAL Sellick STT80 Tow Forklift has the power to move your manufactured home with ease, comfort and safety. We have been engineering and manufacturing rough terrain forklifts for over 45 years and our nationwide dealer network offers superior support for all your parts and service requirements. Call toll-free or e-mail us today for all your material handling needs. ... SETTING THE STANDARD FOR MOVING MANUFACTURED HOMES! ... SETTING THE STANDARD FOR MOVING MANUFACTURED HOMES! 1-877-SELLICK (735-5425) E-mail: sales@sellickequipment.com No. 8 on Get It Quick Page Capital One announced today that it has pro- vided a $4.7 million Fannie Mae fixed-rate loan to refinance Country Cousin Manufactured Home Community, a 309-space manufactured housing community (MHC) in Novi, Michigan. Damon Reed, Senior Vice President and Capital One Multifamily's Director of MHC Finance, originated the transaction. The sponsor, who has over 30 years' experi- ence in the MHC and commercial real estate market, will use the majority of the loan's pro- ceeds to gain full ownership of the property. "At Capital One, we work hard to meet and exceed client expectations in all areas, and clos- ing time is no exception. In this case, the part- nership settlement had a hard deadline," Reed says. "Even though the sponsor was a new client, we were able to rate lock and close within 40 days, which allowed the sponsor to meet this deadline." Country Cousin was constructed in two phases: 212 sites in 1966 and 97 sites in 1996. Country Cousin is in a relatively affluent neigh- borhood within the Detroit MSA and is zoned for the Novi School District, one of the better school systems in the state. The nearby Twelve Oaks Mall has numerous high-end retailers, including Nordstrom and Apple. The 10-year, fixed-rate loan has 9.5 years of yield maintenance and a 30-year amortization schedule payable on an actual/360 basis. Capital One Bank's Commercial Real Estate Group offers a comprehensive array of financing solutions for property owners and developers na- tionwide, including balance sheet and agency lending. Additional information can be found at www.capitalonemultifamily.com. Capital One Commercial Banking leverages a relationship- based banking model that seamlessly delivers an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, inter- national services and correspondent banking. Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Cap- ital One, N.A., and Capital One Bank (USA), N.A., had $217.7 billion in deposits and $334.0 billion in total assets as of December 31, 2015. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small busi- nesses and commercial clients through a variety of channels. Capital One, N.A. has branches lo- cated primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Ex- change under the symbol "COF" and is included in the S&P 100 index. Capital One Closes a $4.7 Million Fannie Mae Loan to Refinance Detroit-Area Manufactured Housing Community