May 4, 2022
ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed over $43,000,000 for several Manufactured Home Communities and a Self-Storage facility in the first quarter of 2022.
Managing Director, Anthony J. DiMarco, secured a $12,315,000 non-recourse loan for a client’s 240+-site mobile home community in Texas. The loan featured a long term fixed rate with interest only terms.
Anthony also helped secure a $10,715,000 non-recourse loan for a repeat client’s 136-site Illinois MHC. The loan featured a long-term fixed rate with interest only terms.
Additionally, Anthony negotiated financing for a client’s 325+-site MHC located in Arkansas. The non-recourse loan of over $9,000,000 also featured a long term fixed rate with interest only terms.
In addition, Anthony helped secure financing for a repeat client’s Texas MHC. The $2,660,000 loan featured a fixed rate with flexible prepayment terms.
Vice President, Pierce Redmond, helped secure financing for a repeat client with mobile home communities located in Michigan and Ohio. The non-recourse loan of $5,850,000 featured a long-term fixed rate.
Pierce also negotiated financing for a client’s mobile home parks located in West Virginia with a $1,200,000 fixed rate loan featuring flexible prepayment terms.
Additionally, Pierce secured financing for a client’s Ohio MHC with a fixed rate loan of $1,005,000 featuring flexible prepayment terms.
Lastly, Pierce secured financing for a client’s Self Storage facility located in New York State. The fixed rate loan of $370,000 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.