December 5, 2018
ROCHESTER, N.Y. (December 5, 2018)
ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $45,306,000 for several manufactured home communities and apartment complexes in the Fall of 2018. The most recent closings include the following:
Managing Director, Gerard D. DiMarco, Jr., secured financing for a client’s undisclosed 344-site mobile home community. The $11,750,000 non-recourse loan featured 3 years of interest only with flexible prepayment terms.
In addition, Gerry secured a non-recourse loan in the amount of $7,215,000 featuring full term interest-only. The repeat borrower’s 216-site Woodcreek mobile home community is located in Traverse City, MI.
Gerry also provided re-financing for a repeat client’s undisclosed 414-unit apartment complex. The $18,720,000 non-recourse loan featured full term interest only payments.
Additionally, Gerry helped negotiate refinancing for a repeat client’s undisclosed MHC in Connecticut with a non-recourse loan of $3,338,000.
Anthony J. DiMarco, the other Managing Director, secured refinancing for a repeat client’s 182-site mobile home park in Bellville, OH with a $2,150,000 non-recourse loan.
Vice President, Pierce Redmond helped negotiate re-financing for a client’s 67-site Saratoga Greens MHP located in Greenfield Center, NY. The non-recourse loan of $1,383,000 featured 2 year’s interest-only.
Security Mortgage Group is a premier national lending source for Manufactured Home Communities, and is a four-time recipient of the “Manufactured Home Community Lending Broker of the Year” award given by the Manufactured Housing Institute. Call us at 585-423-0230 anytime for specific questions on financing for your community.