Dekel Capital Secures $9.4M Refi Loan For Dana Point Mobile Home Park
LA-based Dekel Capital, a merchant bank specializing in capital market advisory and private equity for real estate financing, has secured a $9.4M loan for Doheny Park Associates to refinance Beachwood Park & Village, a 96-pad, all ages mobile home park located at 34052 Doheny Park Rd in Dana Point. The fixed-rate loan was priced in the low 4% for a seven-year term.
Doheny Associates recently completed a major upgrade to the park's amenities, including the clubhouse, pool and landscaping. Beachwood Park is a top-of-the-line asset that demands premium rents and is in a prime location, less than a mile from the Pacific Ocean and adjacent to a Costco-anchored shopping center.
Dekel Capital founder and principal Shlomi Ronen says there are a limited number of lender groups that serve the financial needs of mobile home parks. With a deep network of lenders, he noted Dekel was able to locate a lender with experience in this type of product that understands the value of the upgrades and property’s coastal location. Despite the lack of available comps in the immediate area, Shlomi says, “the sponsor’s proven track record in commercial real estate investment and ownership of two nearby mobile home parks allowed us to secure terms for the loan that satisfied all parties involved.”