ROCHESTER, N.Y. - August 8, 2006
Security Mortgage Group, three time winner of MHI's Community Lending Broker of the Year award, is pleased to announce the closing of a $77.5 million mortgage loan on 12 RV properties throughout the eastern United States. The properties were located in Florida, New York, Pennsylvania, North Carolina, New Jersey, Maine, New Hampshire, and Ohio. Additionally, Gerard D. DiMarco arranged financing of $6.75 million, in the form of a floating rate bridge loan, for an undisclosed Florida RV park.
"Because RV campgrounds are now viewed as a strong, stable asset class, there is a lot of opportunity for small, medium, and large campground owner/operators to get competitive rates and terms," says Gerard D. DiMarco, Jr.
Security Mortgage Group is the premier national lending source for Manufactured Home Communities, having received the "Manufactured Home Community Lending Broker of the Year" award in 2004, 2005, and 2006 from the Manufactured Housing Institute.