CBRE|Hampton Roads has arranged the $18.775 million long-term, fixed-rate, non-recourse financing for a portfolio consisting of five manufactured housing communities located in Virginia and North Carolina, including one in Suffolk.

These five assets, owned by Franklin Management Group, were part of a plan to recapitalize the assets and secure with long-term fixed-rate, non-recourse financing.

Properties include Bullock Mobile Home Park in Suffolk; Grassy Creek Mobile Home Park in Harrisonburg, Hollins Mobile Home Park in Roanoke, Riverland Mobile Home Park in Salem and Shattalon Mobile Home Park in Winston Salem, N.C.

Franklin Management Group is based in Newport News and has been investing in and operating manufactured housing communities and apartment complexes since 1988.

Franklin Management Group is among the largest manufactured housing owner/operators in Virginia and North Carolina, with a portfolio of more than 20 communities totaling 2,600 sites.