Manufactured Housing Community - Debt

Northmarq finalizes refinancing of Eldorado Estates Mobile Home Park in St. Peters, Missouri

ST. LOUIS, MISSOURI (July 19, 2022) – David Garfinkel, senior vice president/managing director of Northmarq’s St. Louis debt/equity team, arranged the refinancing of Eldorado Estates Mobile Home Park. The 400-space class B mobile home park was built in 1971 and is located at 1 Eldorado Court in St. Peters, Missouri. Northmarq secured the permanent-fixed loan for the borrower, C. Burton Leve Properties, L.L.C., through its correspondent relationship with a life insurance company. 

“I was extremely pleased with the process working with Northmarq and our lender.  Everything that was communicated to us was exactly what happened, and the closing process was smooth and efficient,” said Cliff Leve of the ownership group.

“The loan could have gone to several strong life company lenders, but after our correspondent relationship met with the borrower and toured the property, we had the deal rate locked within a day or two of meeting. The face-to-face gave the borrower a strong level of assurance for closing and beyond,” said Garfinkel. 

Amenities on the property include: Pet friendly policy, off-street parking, playground, clubhouse, swimming pool, recreational facilities, paved street, horseshoes, basketball court, shuffleboard court, billiard room and boat/recreational vehicle storage. 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.