Paradise Cove Mobile Home Park

Southern California Self Storage Portfolio
September 20, 2019

Debt: $25,000,000

Knightsbridge arranged fixed rate debt financing for Paradise Cove, a mixed-use 68 acre beachfront property in the Point Dume area of Malibu, California, with an approximately 34 acre / 257 tenant mobile home park.

Knightsbridge overcame the following challenges:
  • Borrower owns, operates and maintains a newly installed on-site waste water treatment plant. Knightsbridge helped lender overcome environmental-related concerns with the plant.
  • Closed financing with pending conditional use approvals for the property.
  • Using the strong historical performance of the park as leverage, identified financing with limited carve-out guarantees.