LOS ANGELES (July 14, 2016) – Dan McCarthy, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office, arranged a $12.8 million refinance for Westward Ho Mobile Park Home a 131-units multifamily property located in 12044 Royal Road in El Cajon, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. The cash-out transaction featured a low fixed-rate with high leverage.
“The borrower was able to pull significant cash out to help recapitalize his balance sheet and pay down various debts,” said McCarthy.