Matt Stevens Of Greystone Arranges $8M Loan For Casa Del Rey Estates LLC

The property involved in this transaction is Casa Del Rey Mobile Homes Estates, located at 881 N Lake St, Hemet, CA, 92544. This single-family asset spans 30.6 acres and features 267 single- and double-wide pads, catering to an age-restricted community. The estate includes two clubhouses, two pools and spas, as well as recreational and exercise facilities, on-site parking, laundry facilities, and a carwash area.

Summary of transaction details:

• Property Type: Single Family
• Transaction Amount: $8,000,000.00
• Address: 881 N Lake St, Hemet, CA, 92544
• Market: Hemet
• Borrower: Casa Del Rey Estates LLC
• Borrower's Representative: Matt Stevens - Greystone
• Loan Type: Fannie Mae
• Loan Terms: 10-year loan with a 30-year amortization period and interest-only payments for the first three years

The loan, originated by Matt Stevens from Greystone's San Diego office, supports ongoing capital improvements and helps the borrower to monetize existing equity in the property. The transaction also involves James Vance DiMaria representing the interests of the borrower.