Largo Capital Secures CMBS Refinance for Delaware Manufactured Housing Portfolio

April 30, 2025 – Laurel, DE – Jack Phillips, Principal of Largo Real Estate Advisors, Inc., successfully arranged a permanent first mortgage to refinance the existing debt on a portfolio of three manufactured housing communities located in the State of Delaware. The properties span nearly 100 acres and provide attainable housing options conveniently situated near schools, local businesses, and major roadways. The parks are short 45-minute drive to the Chesapeake Bay area and Ocean City, Maryland as well as Rehoboth Beach, Delaware

The portfolio includes 342 pads with a strong 94% occupancy rate, reflecting high demand and operational stability. Included in the monthly lot rent, residents get garbage pick-up, sewer, and water. Pets are welcome with some restrictions. Delaware manufactured housing financing

Largo secured a non-recourse, interest-only loan that was funded through CMBS execution, enabling maximum loan proceeds even amid a more cautious lending environment.

Delaware’s population growth—up 10% over the past decade—further reinforces the long-term value of these communities. Delaware manufactured housing financing