by Pierce Redmond
Security Mortgage Group, a national award-winning MH Community lending broker, is pleased to have financed $78,632,000 thus far in 2017 for several manufactured home communities nationwide.
The most recent March closings included the following:
Managing Director, Gerard D. DiMarco, Jr., secured acquisition financing for two manufactured home communities totaling 192 sites in Wyoming. The $4,750,000 loan featured a limited prepayment penalty and flexible lending terms.
Gerry also helped negotiate financing for a repeat client’s purchase of a 184-site mobile home and RV park in Corpus Christi, TX with a non-recourse loan of $2,445,000.
Anthony J. DiMarco, the other managing director, helped negotiate financing for a repeat client’s Ohio and Kentucky MHC Portfolio with over 700 sites. The $26,025,000 non-recourse loan featured a long-term fixed rate.
In addition, Anthony closed a deal for a repeat client’s mobile home community located in Houston, TX. The long term, fixed rate non-recourse loan totaled $14,347,000 for this 5 star community.
Security Mortgage Group is a premier national lending source for Manufactured Home Communities and income producing properties, 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.