Lagoons MHC

Location: Rockport, TX
Type: Mobile Home Park
Price: $ 4,100,000

SMC has provided a $4,100,000 loan for the refinance of Lagoons MHC, a 318-pad mobile home community in the South Texas coastal community of Rockport, approximately 30 miles northeast of Corpus Christi on Texas Highway 35. The climate of the Rockport area is attractive to many seniors, and there is a large snowbird population which comprises a significant portion of the Subject’s tenants.