HUNTINGTON BEACH, CA—CBRE Capital Markets' Debt & Structured Finance team has secured $75.0 million in financing for Huntington by the Sea, an oceanfront mobile home and RV park here.
Brian Halpern and Alex Kane of CBRE's Los Angeles office arranged the financing through Natixis on behalf of Mills HBS, LLC and Advanced Real Estate Services, Inc. (ARES) of Irvine. The 10-year, fixed-rate loan, which includes 30-year amortization and is interest-only for three years, will be used to refinance the existing property.
Located at 21871 Newland Street, Huntington by the Sea is a trophy mobile home and RV park. Built in 1963, the property includes a 306 space mobile home community and a 95 space RV park, and is considered to be one of the premier parks in Southern California. The separate communities each have their own gated entrance, clubhouse, pool and pet areas. Located on the north side of Pacific Coast Highway the park is only 100 yards from the beach. A number of the upgraded units within the community enjoy ocean views from their roof top decks.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
