Shoreline closed a $1.25 million 1st trust deed loan to the Non-Profit owner of a mobilehome park through a boutique lender specializing in affordable housing, and additionally arranged a $190,000 private money, second trust deed loan. While the owner is an experienced MHC operator, the transaction was challenged by the lack of cash equity given the borrower’s Non-Profit status.
- Loan Amount: $1,440,000
- Rooms: 42
- State: CA