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October 6, 2009

Monroe & Giordano Arrange Loan for Gateway MHC

Tampa, Florida—Monroe & Giordano, a Tampa based Mortgage Company, arranged through its national lending sources, a Permanent Loan totaling $7,000,000 on Gateway Manufactured Home Community in St. Petersburg, FL. The community is located on heavily traveled Gandy Blvd. near the 4th Street intersection.

Gateway Manufactured Home Community contains 337 sites on 40.07 acres. There are 144 doublewides but all the sites will accommodate doublewides. The gated, 55+ community was developed 45 years ago and is currently 96% occupied. Amenities include a clubhouse, swimming pool, shuffleboard, horseshoes and exercise/activity/billiard rooms.

This transaction represented a continuation of a twenty one year relationship with this borrower.

J. Cary Monroe, Michael B. Giordano and Glenda Rice with over 65 combined years experience in commercial real estate lending, have established the commercial mortgage banking firm of Monroe & Giordano which is active primarily in the Southeastern United States. The firm represents numerous lenders that are extremely active for properties of these types. Monroe & Giordano have proven they have the ability to provide their borrowers creative solutions based on each borrower’s unique needs.

Monroe & Giordano have offices in Tampa, Florida and may be reached at 813-229-5055.