May 31, 2007
ROCHESTER, N.Y. - May 31, 2007
Security Mortgage Group is pleased to announce the mortgage closings for four mobile home communities in Texas and Kentucky. Financing for all four communities was structured with a 10 year term and a 30 year amortization schedule.
Fiesta Mobile Home Park, a 275 site community in Dickinson, Texas, obtained $1,392,000 in acquisition financing on May 31, 2007. In nearby Houston, Willow Green Mobile Home Park refinanced its 290 sites for $7,100,000 on April 4, 2007.
Imperial and Clark's Run Mobile Home Parks acquired $3,000,000 in permanent mortgage financing on May 10, 2007. The portfolio contains a total of 271 homesites; the properties are located in Lexington and Danville, Kentucky.
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.