11 Properties Acquire Financing Through Security Mortgage Group in August and September 2014
ROCHESTER, N.Y. (September 30, 2014)
Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have provided over $19,000,000 in financing for several properties nationwide in the months of August and September. Financing was arranged for manufactured housing communities in Arkansas, Texas, Utah, Georgia, Indiana, and Michigan.
Managing Director, Anthony J. DiMarco, helped negotiate acquisition financing for a number of repeat clients. A majority of the loans featured non-recourse terms, a long-term fixed rate, and 25-30 year amortizations. Anthony’s loan closings include the 84 site Mountain View MH Community in Utah for $,500,000; a portfolio of three MH communities in the Midwest with over 380 MH home sites for $8,670,000; and a $1,960,000 loan in Georgia for The Mill MH Community.
Gerard D. DiMarco, Jr., Managing Director, also secured non-recourse fixed rate financing for various new and repeat clients with a total loan volume of roughly $6,600,000. Gerard’s closings included Shackleford MH Park in Little Rock, AR for $2,475,000; Safari MH & RV Park in League City, TX for $2,025,000; and a portfolio consisting of 3 manufactured home communities totaling 152 home sites in Indiana for $2,163,000.
Additionally, Pierce Redmond, Vice President, provided financing via Security Mortgage Group’s small loan program of $546,000 for the 99 site Evergreen Village MH Park in Hesperia, MI.
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 MH community.