Oceanside Mobile Home Park

Transaction description

Michael Tanner and Tony Messiah of PSRS arranged the $9.7 million refinance of a mobile home park community in Oceanside, California. The subject property is a 108-unit mobile home park community that is 98% occupied and features a community clubhouse, pool, and jacuzzi. The mobile homes are double-wide and feature private backyards. There is a joined parcel of a gas station that is adjacent to the mobile home park. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan, with a 10-year term and 30-year amortization.