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May 27, 2024
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Newmark Realty Capital Arranges $25 Mil for Two Mobile Home Communities


Newmark Realty Capital has arranged $25 mil in financing for mobile home communities in Truckee, CA and Kyle, TX.

Coachland RV Park, located 20 minutes north of Lake Tahoe, is a 229-space, all ages mobile home and RV community. The property consists of primarily double-wide homes with the exception of a few single-wide homes and 131 RV sites. Lakeside Crossing, located 20 minutes south of Austin, is a 279-space premium family mobile home community. Both properties have an excellent array of amenities including clubhouses, swimming pools, and playgrounds.

Newmark’s Patrick Barkley arranged the non-recourse, bridge-financing. The loan secured enough funds to refinance both properties and included provisions to get the borrower additional dollars, which ultimately helped facilitate the sponsor in converting the RV space at Coachland RV Park to annual park models.

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