NorthMarq's San Diego office finalizes $24.25 million refinance of Poinsettia Mobile Home Park in Poway, California

Poinsettia Mobile Home Park

SAN DIEGO (September 25, 2017) – Gardiner Champlin, senior vice president and Marty Meagher, senior vice president of NorthMarq Capital’s San Diego regional office arranged the $24.25 million refinance of Poinsettia Mobile Home Park, a 262-space affordable senior and family mobile home community located at 13648 Edgemoor Street and 13610 Poinsettia Drive in Poway, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform. The property is comprised of a 124-pad senior section (55+) and a 138-pad family section. Occupancy is restricted to lower income and very low income residents.

“NorthMarq Capital’s Fannie Mae team provided excellent customer service to the borrower, resolving significant challenges associated with regulatory restrictions and repayment of existing tax-exempt bonds for this affordable housing community,” said Champlin. “The financing will support the city’s objective of preserving this affordable housing community in perpetuity for the citizens of Poway, California. The non-profit sponsor Wakeland Housing and Development Corporation is very pleased with the process and results of this refinancing,” said Meagher.

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:

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