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.

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.

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.

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.)

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