Multifamily - Debt

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

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.