February 6, 2023
FOR IMMEDIATE RELEASE
January 27, 2023
Contact: Gerard D. DiMarco, Jr.
SECURITY MORTGAGE GROUP Provides Financing for Several Manufactured Home Communities, an RV Park and an Apartment Complex in the third and fourth quarters of 2022 totaling over $67,000,000.
ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed over $67,000,000 for several Manufactured Home Communities, an RV Park and an Apartment Complex in the third and fourth quarters of 2022.
Managing Director, Gerard D. DiMarco, Jr., helped secure refinancing for a client’s 432-site RV Park & Waterpark in the Dallas/Fort Worth, Texas area. The $27,000,000 loan featured a fixed rate and flexible prepayment terms.
Gerry also secured refinancing for a repeat client’s apartment complex, located in New York State’s southern tier region, with a fixed rate non-recourse loan of $2,390,000.
Anthony J. DiMarco, the other Managing Director, negotiated a refinance loan of $14,421,000 for a repeat client’s undisclosed manufactured home community portfolio. The loan featured non-recourse terms and a long term fixed rate. Anthony also helped secure debt, featuring interest only payments, on a refinance loan of $7,099,000 for a client’s MHC portfolio in the Midwest.
Additionally, Anthony helped secure financing for a repeat client’s 138-site MHC in Butte, CA. The $6,734,000 loan featured interest only and non-recourse terms. Finally, Anthony negotiated financing for a repeat client’s Chicago area MHP with a $3,512,000 loan.
Vice President, Pierce Redmond, helped secure financing for a client’s MHC Portfolio with various locations in Tennessee with a $1,524,643 loan.
Pierce also negotiated financing for a client’s North Carolina MHP with a $1,400,000 fixed rate loan.
Additionally, Pierce negotiated refinancing for a client’s 177-site MHC in Pennsylvania with a loan of $1,141,000 and negotiated a refinance fixed rate loan of $1,190,000 for a repeat client’s Massachusetts MHC.
Lastly, Pierce secured acquisition financing for a client’s two MHPs located in Ohio with a loan of $610,000. The loan was provided through Security Mortgage Group’s small loan program.
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.