Featured Transactions

Client Request

Cash-Out, Non-Recourse loan to refinance the acquisition financing on a 96-pad luxury mobile home park in Dana Point, California.


Situation/Challenges

  • Request was for maximum loan proceeds with a non-recourse lender to return sponsor equity
  • Comparable properties in the immediate area provided limited valuation / rent-level comparables for the renovated subject property
  • Limited universe of lenders that offer non-recourse financing for mobile home parks

Solution

  • Prepared a wide ranging comparable survey to prove out subject property valuation given recent upgrades and coastal location
  • Sponsor’s proven track record in renovating and stabilizing mobile home parks in Southern California provided lender with further support to maximize proceeds
  • Performed a comprehensive market and property tour for the lender, inclusive of full team (sponsor, leasing brokers, property managers)