ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed over $46,400,000 for several Manufactured Home Communities, RV Parks and an Apartment Complex in April and May 2019. The closings included the following:
Managing Director, Gerard D. DiMarco, Jr., secured financing for a repeat client’s Florida Apartment complex with a long term fixed rate non-recourse loan of $11,000,000.
Gerry also negotiated refinancing terms for a repeat client’s 253-site Texas RV Park with a non-recourse loan of $7,000,000. The loan featured a competitive 10 year fixed rate.
Additionally, Gerry secured non-recourse refinancing terms for the following repeat clients’ Manufactured Home Communities:
- A $3,600,000 loan with 3 years interest-only for a 143-site Wisconsin MHC.
- A loan of $5,850,000 for a 2-park portfolio in Conroe, TX MHC with 142 sites.
- A $14,500,000 loan with a 3.87% rate for a 617-site Michigan MHC.
Anthony J. DiMarco, the other Managing Director, secured financing for a repeat client’s 152-site South Dakota MHC. The $3,400,000 loan featured a 5-year interest only period.
Vice President, Pierce Redmond negotiated financing for a repeat client’s South Texas Mobile Home and RV Park. The $1,050,000 loan featured flexible prepayment terms.
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.