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

Mobile Home Park
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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.

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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.