March 1, 2018
ROCHESTER, N.Y. (March 1, 2018)
ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed over $31,000,000 for several manufactured home communities in the first few months of 2018. The most recent closings include the following:
Managing Director, Gerard D. DiMarco, Jr., secured refinancing terms for a repeat client’s 227-site mobile home community in New York with an $8,074,000 non-recourse loan. The long term fixed rate was in the high 4% range.
In addition, Gerry assisted a client with financing for their 203-site mobile home community located in Deerfield, Ohio. The $6,200,000 non-recourse loan featured a long-term fixed rate.
Finally, Gerry helped negotiate the financing of a non-recourse, long-term fixed rate loan of $4,092,000 for a client’s 143-site mobile home park located in Georgia. The loan features the option to obtain supplemental debt on the property in the future.
Anthony J. DiMarco, the other Managing Director, helped negotiate financing for a repeat client with a non-recourse, flexible prepayment $1,530,000 loan. The 135-site mobile home community is located in the state of Kentucky.
Vice President, Pierce Redmond, through the small loan program, helped negotiate refinancing for a repeat client with a $800,000 loan. The loan features flexible prepayment terms. The community, with 270 sites, is in New Jersey.
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.