Security Mortgage Group Finances 80,032,500 for Several Communities

This community photo, logo and other images from the Security Mortgage website are the property of that firm, and are provided here under fair use guidelines. Text graphic and collage by MHProNews.

Rochester, New York-based Security Mortgage Group, a national award-winning MH Community lending broker, has provided $80,032,500 in financing for several manufactured home communities throughout the nation over the last few months.

Managing Director, Gerard D. DiMarco, Jr., secured financing for several MHC portfolios, including a repeat client’s portfolio of Midwest MHCs with a total loan of $6,900,000, an upstate New York MHC portfolio acquisition for a repeat client for $4,050,000 and a $14,500,000 loan for a client’s Ohio MHC portfolio.

Gerald DiMarco Jr, Managing Director, Security Mortgage Group. This photo and other images from the Security Mortgage website are provided under fair use guidelines.

Additionally, DiMarco helped to negotiate refinancing for a repeat client’s community located in South Bloomfield, OH with a loan of $5,297,000, and financing for a client’s purchase of an existing MHC located in Ocala, FL. The loan amount was $1,718,500.

All of the non-recourse loans featured a long-term fixed rate for repeat clients, DiMarco told MHProNews.

Anthony DiMarco, Managing Director, Security Mortgage Group. This photo and other images from the Security Mortgage website are provided under fair use guidelines.

Managing Director Anthony J. DiMarco, also negotiated refinancing for several repeat clients including a loan of $15,375,000 for a 488-site MHC located in Cedar Rapids, IA, a $4,807,000 loan for a St. Louis area MHC, a $7,520,000 loan for a 333-site community located in Cedar Falls, Iowa and a $4,700,000 loan for an Indiana MHC portfolio.

Additionally, he secured financing for a repeat client’s purchase of a MHC located in Port Huron, MI with a loan of $13,500,000. The 496-site community includes a clubhouse and playground.

Vice President Pierce Redmond assisted in the negotiation of refinancing for a repeat loan of $1,665,000 for the Clintonview & Swiss Gardens Townhomes located in New Hartford, NY.PierceRedmonVPSecurityMortgageGroupManufacturedHousingCommunityIndustryFinancingReFi-postedDailyBusinessNewsMHProNews-

The Security Mortgage Group website says they are a premier national lending source for Manufactured Home Communities, and a four-time recipient of the “Manufactured Home Community Lending Broker of the Year” award given by the Manufactured Housing Institute (MHI.)

A look at Security Mortgage Group’s recent performance, which featured $40,853,000 in financing over the course of a week, is linked here. ##

(Image credits are as shown above.)

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

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