ROCHESTER, N.Y. – Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $23,603,750 in May & June for several manufactured home communities nationwide. The most recent closings included the following:
Managing Director, Gerard D. DiMarco, Jr., secured refinancing for a client’s 183-site mobile home park in Warren, OH. The $1,728,000 loan featured flexible prepayment terms and a long-term fixed rate.
Anthony J. DiMarco, the other Managing Director, helped negotiate refinancing for a repeat client’s Louisiana 250-site mobile home park with a non-recourse loan of $5,210,000 and a Michigan mobile home community with over 300 sites featuring a non-recourse loan of $14,640,000. Both communities feature clubhouses, playgrounds, and other tenant amenities.
Vice President, Pierce Redmond, through the small loan program helped negotiate refinancing terms for a repeat client’s Wesleyville MHP in Erie, PA with a $342,000 loan featuring flexible prepayment terms.
In addition, Pierce secured financing for a client’s acquisition of the 177-site Heritage Hills MHC in Pulaski, PA with a $1,323,750 loan and a client’s Butternut Creek MHC in Charlotte, MI with a $360,000 loan. Both loans featured flexible prepayment terms with fixed rates.
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.
