In the 4th Quarter 2014, Security Mortgage Group Provided Financing of $19.6M on 5 Properties
ROCHESTER, N.Y. (December 30, 2014)
Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have provided over $19,600,000 in financing for several properties
Managing Director, Anthony J. DiMarco, helped negotiate acquisition financing for the 500 site Country Manor Manufactured Home Community in Indiana. The $9,925,000 acquisition loan featured a non-recourse long-term fixed rate term and a 30-year amortization. Anthony was pleased to assist this repeat client and navigate the high percentage of park owned homes at the property.
Gerard D. DiMarco, Jr., the other Managing Director, also secured non-recourse financing for an undisclosed MHC in Ohio. This $7,575,000 loan featured a 30 year amortization and an attractive low interest rate.
Pierce Redmond, Vice President, assisted in the financing of three separate transactions via Security Mortgage Group’s small loan program. Closings included a $793,000 loan for the Maplewood MHC in Michigan, a $750,000 loan amount for the 68 site Hillcrest MHP in Indiana, and $637,500 for a single family & duplex portfolio in Rochester, NY. The lender of the portfolio offered flexible lending terms starting at $500,000 for landlord portfolios.
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.