Knightsbridge Arranges $140M for Mobile Home Parks

NEWPORT BEACH, CA— Knightsbridge Realty Capital (KRC) recently worked on behalf of two large mobile home park owners to facilitate financing of $140 million secured by four mobile home communities (totaling 1,572 pads) in Orange, Riverside and Santa Clara counties.

The two mobile home park owners received $140 million secured by four communities (totaling 1,572 pads) in Orange, Riverside and Santa Clara counties.

KRC arranged the closing with Fannie Mae (on behalf of Pillar Finance) and a national bank after what it calls “an exhaustive search” to identify the appropriate lenders. Knightbridge says the arrangement met the borrowers’ goals: a loan that will generate maximum proceeds at the lowest possible rate. All 4 properties had 10-yr old debt coming due , and as a result of both a rising market and strong management the borrowers were able to pull out a significant amount of cash. Knightsbridge Realty Capital is a boutique Newport Beach financial advisory that structures equity and debt for investment real estate transactions.  Since 2002 KRC has closed over $3 billion in financing. Knightsbridge says it has access to over 500 debt and equity capital sources.