LOS ANGELES, CA—Johnson Capital, a national real estate capital advisory firm, says that Kevin Burkhalter, Senior Vice President in the firm's Los Angeles office, has arranged, on behalf of a privately held entity, $20,500,000 in permanent financing secured by a 5-star 297-pad mobile home park in Malibu. The property offers residents a variety of on-site amenities and excellent ocean views.

Funded by a major insurance company, the terms of this loan consisted of a 3.74% fixed interest rate for the 20-year fully-amortizing loan term. This rate was more than 2% lower than the previous 2003 loan. Some of the attractive loan features that Johnson Capital negotiated are: a flat 1% prepayment structure after the 15^th year of the loan term; the option to re-cast and thus lower monthly debt service following partial repayments; and allowable supplemental (or subordinate) financing.

Commenting on the debt transaction, Mr. Burkhalter said, “Due to the sub-30% leverage and excellent property location, lender competition was significant as evidenced by attractive quotes from four insurance company finalists. Each offered interest rates below 4.0% and reduced prepayment structures in the last five years.”