February 14, 2006
ROCHESTER, N.Y. (February 14, 2006)
Security Mortgage Group, a firm that provides self storage financing nationwide, secured $3,500,000 in mortgage financing for the 737-unit Fairfield Storage facility in Cincinnati, Ohio. This loan was closed through a special small loan program that featured capped closing costs and a 60-day extended rate lock. A long-term fixed rate will allow the borrower to maximize cash flow with a 10-year loan term and a 30-year amortization schedule.
Through a similar program, Anthony J. DiMarco arranged mortgage financing of $1,100,000 for the 203-unit 2nd Attic Self Storage facility located in Boyertown, Pennsylvania.
In February, Anthony J. DiMarco closed $13,000,000 in financing for four Capital Self-Storage facilities in Pennsylvania. The facilities in Dover, Hanover, Mechanicsburg, and Enola feature a total of 2,247 units and 263,684 square feet of storage space. The refinancing was arranged with a 10-year fixed rate and a 30-year amortization schedule.
Gerard D. DiMarco, Jr. procured financing for the 200-unit Green Caye Village Mini Storage in Dickinson, Texas. Collateral for the $14,750,000 loan included a 180-site RV Park, a 180-site Manufactured Housing Community, and a 194-unit apartment complex.
Two transactions were closed 60 days apart for a client in Florida by Gerard D. DiMarco, Jr. The first loan, for $3,100,000 was closed on the 859-unit Acorn Self Storage of Sebastian, Florida. The borrower then refinanced the 607-unit Acorn Self Storage of Brevard facility for $1,600,000 located in Vero Beach, Florida.
Security Mortgage Group is a nationally recognized broker for self storage facility financing and other income properties such as industrial, multifamily, RV parks, retail, office, medical office, construction, and manufactured home communities.