OC Mobile Home Park

Transaction description

Michael Tanner and Tony Messiah of PSRS arranged the $6.25 million refinance of a mobile home park in Costa Mesa, CA. The subject property is a garden-style mobile home park, built in 1990. In total, there are 62 units and 36 total parking spots on a 2.13-acre site. The property is well maintained and landscaped, providing an aesthetically pleasing campus for its residents. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan with a 15-year term and 25-year amortization.