In this episode of CashFlow Quest, hosts Blake Comfort, Jennifer Purcell, and Ben Schuester sit down with Art Tuverson from Berkadia, nicknamed 'The Surgeon' for his loan process expertise. They cover key lending principles like loan-to-value ratios and debt service coverage, and how MHC loans differ from traditional multifamily financing. Art explains the importance of asset quality and location, and strategies for structuring loans to maximize cash flow. Lastly, they touch on interest-only loans, the challenges of negative leverage, and predictions for 2025 interest rates.
Art Tuverson is a highly experienced Managing Director of Mortgage Banking for Berkadia Manufactured Housing based in San Clemente, CA. With over 25 years of expertise, he specializes in providing debt and equity capital for various property types across the nation. Art’s focus lies in the manufactured housing community and RV resort industry, where he excels in arranging agency, conduit (CMBS), life company, bank, and bridge first mortgages. Additionally, he is well-versed in structuring participating debt, preferred equity, and joint venture equity arrangements.
Listeners can connect with Art Tuverson on LinkedIn @ArthurWTuverson, and at Berkadia
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Blake Comfort, Co-founder of ComfortCommunities and Comfort Capital in 2008, embarked on a journey to acquire manufactured home communities, laying the foundation for the investment and management company we have today. In 2009, Comfort Communities acquired its first manufactured home community, and since then, the company has continued to expand, purchasing and managing numerous manufactured housing communities. Blake oversees all capital market functions, acquisitions, and deal sourcing forComfortCommunities and Comfort Capital. When he’s not working, Blake cherishes spending quality time with his wife and two young children and occasionally takes to the skies, flying around San Diego.
Jennifer Purcell, Co-founder of Comfort Communities and Comfort Capital, was raised in a real estate-loving household with her father being a general contractor and developer of over 4,000 units in San Diego County. Her mission is to change the perception of “Trailer Parks” and create exceptional living environments with top-notch service for residents. A San Diego State University graduate, Jennifer previously worked with R&V Management for their multi-family apartment portfolio at a leading global corporate housing company. Since 2009, she’s been instrumental in building Comfort Communities management team and fostering relationships with trusted investors and advisors, contributing to Comfort Capital’s success today. When she is not operating mobile home communities, she loves spending time outdoors, throwing the ball for her dog, and spending quality time with her husband and her two young children.
Benjamin Schuster leads Capital Formation and Investor Relations for Comfort Capital.
Listeners can connect with Benjamin Schuster on LinkedIn @BenjaminSchuster