Rancho La Paz MHP

Transaction description

Michael Tanner and Tony Messiah of PSRS arranged the $62.5 million refinance of a mobile home park in Anaheim, California. The subject property is 98.5% occupied and has a unit count of 387 with mobile homes featuring single and double-wide lots and was built in 1977. In addition to padded parking spaces, there are 100 additional visitor parking spaces located throughout the property grounds. Some amenity features include paved roads, clubhouses, and a community pool and park. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a five-year interest-only term.