CBRE Facilitates $19 Million in Financing for Sun Valley Community

CBRE has secured $19 million in refinancing for Sun Valley Mobile Home Park, a 263-site manufactured housing community located at 125 Sahara Drive in Pacheco, Calif.

Jim Korinek, Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell and Nick Santangelo of CBRE's Capital Markets Debt and Structured Finance team secured the five-year term loan with a 5.79% fixed interest rate on behalf of their client. A life insurance company provided the financing.

"Our team successfully refinanced this Bay Area mobile home community for an experienced owner-operator," said Mr. Ybarra, executive vice president at CBRE. "The loan provides ownership with a strong cash flow and was facilitated by a tight spread and a 90-day advance rate lock when interest rates were moving up rapidly."

The property is five miles north of Walnut Creek and 25 miles northeast of San Francisco. Its location provides its tenants easy accessibility to major employment hubs within the Greater Bay Area market while maintaining affordability and a strong sense of community with various amenities, including a clubhouse, two pools, outdoor games and a playscape.