Commercial Loan Found In Difficult 2009 Environment on Mobile Home Park in San Diego County, CA

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 19, 2009 -- The Refinance of a San Diego County mobile home park was completed in the difficult lending environment of commercial real estate in 2009 for $650,000 with a regional portfolio lender. Vince Reynolds and Norman Sangalang of MHRV Advisors worked on behalf of the owners to broker this new mobile home park loan.

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Commercial Loan Found In Difficult 2009 Environment on Mobile Home Park in San Diego County, CA

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This was a smaller, but very clean park consisting of 15 mobile home spaces and a single family home. The park is 100% occupied year in and year out due to the excellent location in East San Diego County. The park is in great shape aesthetically, the streets are in good condition and great landscaping. The overall expense ratio is low because there are no amenities to maintain with only two park owned homes and most utilities are passed through. The park is on city water and city sewer. The new $650,000 note and first trust deed variable rate loan is fixed at 6.5% for ten years and fully amortized over 30 years.

The new mobile home park loan gave the owners the opportunity to finish property improvements such as new street lighting and installing new water meters. With the current state of the market, MHRV Advisors was still able to negotiate a low interest rate and get the deal done while the capital markets were in uncertain times. Please call us to discuss this mobile home park refinance or to discuss a free confidential refinance analysis of your park. Call now while interest rates are still low, this could be your last chance for 2009 – Capital is scarce for all park loans, mobile home parks and especially RV parks.

Vince Reynolds & Norman Sangalang of MHRV Advisors specialize exclusively in brokerage of Mobile Home Parks For Sale, Park Financing Loans, RV parks for sale and RV Park loans throughout the states of California, Arizona and Nevada and have sold or refinanced hundreds of MH and RV parks over the past since the early 1990’s. For further information please contact MHRV Advisors at (858) 456-5110 or visit www.mhrvadvisors.com/parksforsale.html

More information can be found online at http://www.mhrvadvisors.com

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