July 18, 2016

NorthMarq Capital’s Los Angeles office arranges $12.8 million refinance for Westward Ho Mobile Home Park in El Cajon, California

Mobile Home Park

Debt & Equity

Multi-Tenant

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.

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.