ROCHESTER, N.Y. (August 13, 2015)
Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have recently provided $31,152,000 in financing for several manufactured home communities nationwide in May and early June.
Managing Director, Anthony J. DiMarco, helped negotiate financing for a repeat client on the 485-site Squaw Creek Mobile Home Park in Marion, IA. The $14,600,000 loan featured an interest only period to start the loan.
Anthony also secured financing for a client on the 124-site Lakewood Village Mobile Home Park located in Grove, OK. The non-recourse loan totaled $2,550,000.
In addition, Anthony secured refinancing for the same client on the 178-site Tower Terrace Mobile Home Community in Hiawatha, IA and the 368-site Eastgate Mobile Home Park in Waterloo, IA with a total loan amount of $6,862,000.
Gerard D. DiMarco, Jr., the other Managing Director, secured financing for a repeat client with a combined loan of $4,940,000 featuring flexible prepayment terms. The Dutcher House Apartments with 46 apartment units and 11 retail spots & Manor Hill Mobile Home Park with 62 homesites are both located in Poughkeepsie, NY.
Vice President, Pierce Redmond, assisted in the refinancing of Shadow Lawn Mobile Home Park in Highlands, NJ with a $2,200,000 loan and 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.