- Loan Amount: $10.000,000
- Property Type: Mobile Home Park
- Originator: Shawn Harris
- Location: Ventura, CA
In this transaction San Diego Commercial & Business Financing was able to facilitate the permanent debt for this beautiful seaside mobile home park. Park had only 22 years left on a GROUND LEASE and we were able to deliver 10 year permanent financing.LTV: 50% Term: 10 year fixed loan, 10 year term Rate: 4.15% Prepay: Step Down
San Diego Commercial & Business Financing is proud to present the funding of this unique MHP property. This was a challenging asset as there were only 22 years remaining on a ground lease. We helped renegotiate the lease with the City of Ventura alloiwng a full balance cash out transaction.
The transaction was funded by Managing Partner Shawn Harris.
Shawn Harris has been active in the Commercial Real Estate community in San Diego for over ten years. At CTM Financial Services where he was the President he oversaw the funding of both commercial and residential real estate loans. As a branch manager of Stearns Lending, the largest privately held non-depository mortgage bank in California, he independently operated his own Mortgage Bank, catering to again to both the commercial and residential community.
For the past three years Shawn has focused solely upon the needs of his Commercial Real Estate clients and partners and is the founding partner of San Diego Commercial & Business Services. By leaving the banking world he believe he can better serve his clients by offering a FULL product offering of loan services.
Please see his LinkedIn profile HERE.
Shawn specializes in finding A+ quality loan products for clients and properties that have trouble finding the appropriate loan placing. He has successfully placed loans across all asset classes, including multi-family properties, office buildings, retail properties, gas stations, mobile home parks, restaurants, bars, self storage facilities, and auto shops.