NorthMarq Capital’s Los Angeles office arranges $12.8 million refinance for Westward Ho Mobile Home Park in El Cajon, California
Mobile Home Park
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.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
