Northmarq arranges $37M sale and financing for Suncrest Country Club in Palm Desert, CA

PALM DESERT, Calif. (April 8, 2025) — Northmarq’s Los Angeles Manufacturing Housing Investment Sales team collaborated with the firm’s Debt + Equity platform for the sale and acquisition financing of Suncrest Country Club, a premier 55+ manufactured housing community located in Palm Desert, California.

Managing Director Jeff Benson and Senior Vice President Sam Neumark represented the seller and buyer in the transaction. The seller is an Orange County-based private investor, while the buyer is based out of Arizona.

Northmarq’s Alex Kane and Alvin Cao secured $24.25 million in acquisition financing for the buyer, a private, Phoenix-based investor, through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a 10-year term, full-term interest-only and sized to a 1.25x debt service coverage ratio.

In addition, Kane and Cao arranged a $7.21 million refinance of Oak Shadows, a 105-space manufactured housing community in San Andrea, California for the borrower, further showcasing Northmarq’s expertise in securing favorable financing solutions.

A trophy asset in the heart of Palm Desert

Suncrest Country Club is a trophy five-star manufactured housing community featuring 359 total pads located in the heart of Palm Desert. The property boasts resort-style amenities, including three pools, pickleball and tennis courts, a clubhouse with a café and library and a nine-hole golf course with fairway views from a number of homes within the park. Its prime location, just minutes from downtown Palm Desert, provides residents with access to premier dining, entertainment and retail options.

“This was a true collaboration between Northmarq’s Investment Sales and Debt + Equity platforms,” said Kane. “Suncrest is a trophy asset with the unique amenity feature of a nine-hole golf course in the middle of the park. While some lenders struggled to incorporate the golf course income into the transaction, Fannie Mae embraced it, delivering highly competitive financing terms that landed them the deal.”

Market strength and value-add potential

With Palm Desert’s average home value at $561,341 and rising, Suncrest presents a compelling investment for long-term ownership in one of Southern California’s most attractive markets.

“There was strong buyer interest due to Suncrest’s impeccable quality, coupled with its stability and upside potential, said Benson. “Its location, high-end amenities and well-maintained infrastructure make it a standout property in the Southern California market.”

Value-add opportunities include modernizing the clubhouse, selling or rehabbing park-owned homes and optimizing operational efficiencies to reduce expenses. “These enhancements could further elevate Suncrest’s appeal while improving revenue streams,” said Neumark.