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NorthMarq Refi’s Poway Mobile Home Park

NorthMarq arranged $24.25 million to refinance Poinsettia Mobile Home Park, a 262-space affordable senior and family mobile home community in Poway, CA. The transaction was structured with a 10-year term on a 30-year amortization schedule.

The property, located at 13648 Edgemoor St. and 13610 Poinsettia Dr., is comprised of a 124-pad senior section (55+) and a 138-pad family section. Occupancy is restricted to lower income and very low income residents.

NorthMarq Capital San Diego regional office’s Gardiner Champlin and Marty Meagher arranged the financing for non-profit sponsor, Wakeland Housing and Development Corporation. NorthMarq arranged financing for the borrower through its Fannie Mae platform.

Meagher says, “The financing will support the city’s objective of preserving this affordable housing community in perpetuity for the citizens of Poway, California.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
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