Greystone has provided $33.7 million to fund the acquisition of Belmont Shores Mobile Estates in Long Beach. The property features 347 age-restricted manufactured housing and mobile home units.

The $33.7 million Freddie Mac loan has a 15-year term and a 30-year amortization period. The loan will help fund significant capital improvements for the property, including reconfiguration of the common area's buildings.

The transaction was originated by Dale Holzer in Greystone's Newport Beach, CA office, on behalf of Alamitos Bay Partnership LLC with Don Smith of Sunrise Mortgage & Investment Co. acting as a correspondent.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.