November 16, 2015

Mobile home park in San Jose, California receives $4.1 million refinance from NorthMarq Capital’s San Francisco office

Mobile Home Park

Debt & Equity

Multi-Tenant

SAN FRANCISCO (November 16, 2015) – Dennis Williams, senior vice president and managing director of NorthMarq Capital’s San Francisco office completed the $4.1 million refinance of La Buona Vita, a 107-pad, senior living, mobile home community located at 455 North Capitol Avenue in San Jose, California. The transaction was structured with a 15-year term and 30-year amortization schedule. NorthMarq Capital arranged financing for the borrower through its correspondent relationship with a life insurance company. This well-maintained four-star community sits on 14 acres and features a clubhouse, billiards room, community pool, and RV parking spaces. The property provides senior residents of 55 and older an affordable alternative within one of the most expensive markets in the country. The sponsor has continuously owned and operated La Buona Vita since developing the site back in 1977. “The life company lender worked with a repeat borrower to refinance this San Jose mobile home park,” stated Williams.

Available Multifamily properties

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.