Northmarq Arranges $25M Refi of Calabasas Manufactured Homes
SVP Alex Kane and VP Matt Radichof Northmarq’s Newport Beach debt/equity office arranged the $25- million refinance of Calabasas Village Mobile Estates. The 210-unit manufactured housing community was originally built in 1973 and is located at 23777 Mulholland Hwy. in Calabasas.
The transaction was structured on a 10-year term, full term interest-only, and the highly competitive process resulted in attractive terms for the borrower. Northmarq secured the permanent fixed rate loan for the borrower through a life insurance company relationship.
“Trophy assets like Calabasas Village are few and far between in today’s market,” said Kane. “Given the highly competitive marketing process, the terms we were able to achieve were well inside any other deals we are seeing in today’s market.”
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).