Northmarq’s Newport Beach debt/equity office, headed by SVP Alex Kane and VP Matt Radichof, arranged a $25 million refinance of Calabasas Village Mobile Estates. The 210-unit manufactured housing community was originally constructed in 1973 and is located at 23777 Mulholland Hwy. in Calabasas.
The loan was structured with a 10-year term and full term interest-only payments, resulting in attractive terms for the borrower after an intense competitive process. Northmarq secured the permanent fixed rate loan through a life insurance company relationship.
Kane commented on the success of this transaction: “Trophy assets like Calabasas Village are rare to find today; given how competitive our marketing process was, we were able to achieve terms that surpass other deals seen on today’s market.”
