During June & July 2014, Security Morgage Group Provides Financing of $52M on 17 Properties
ROCHESTER, N.Y. (July 31, 2014)
Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have provided approximately properties nationwide in the months of June and July.
Managing Director, Anthony J. DiMarco, negotiated 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 430-site Indian Oaks MHC in Indiana for $8,300,000; Desert View MHP in Washington for $5,600,000; a $2,300,000 loan in Nevada for Country Terrace MHP; and a $2,500,000 transaction on Evergreen MHP in Idaho. Additionally, Anthony arranged manufactured home community loan closings in Wyoming, Georgia, Michigan, Texas, Wisconsin, Colorado, and Illinois. The total loan volume of these non-recourse loans was approximately $23,000,000.
In addition, Gerard D. DiMarco, Jr., Managing Director, secured non-recourse fixed rate financing for various new and repeat clients during June and July with a total loan volume of roughly $8,400,000. Gerard’s closings included the Dundee Meadows MHC in Plymouth, MI for $1,925,000; Stonegate MHP in San Antonio, TX for $2,400,000; and the Riverwinds MHC in Millsboro, Delaware for $4,050,000.
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.