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April 29, 2007

Monroe & Giordano Arranges $24.7 Million in Financing

Tampa, Florida—Monroe & Giordano, a Tampa based Mortgage Company, arranged through its national lending sources, a Permanent Loan of $24,700,000 on Lakes of Melbourne Manufactured Home Community in Melbourne, Florida. The property, just east of Interstate 95, is in a prime location north of I-95 and Palm Bay Boulevard exit.

Lakes of Melbourne Manufactured Home Community contains 602 sites and was developed in 1983. The Class A-5 Star age restricted community contains all double and triple wide homes on 140 acres. The gated community surrounds several beautiful lakes and the landscaping is first class. Amenities include a clubhouse, swimming pool, Jacuzzi, putting green and tennis courts.

The loan was rate locked before the recent market upheaval and closed with an interest rate of 5.53% on a 10 year loan term with a 30 year amortization. This transaction represented a continuation of a fifteen year relationship with this borrower.

J. Cary Monroe, Michael B. Giordano and Glenda Rice with over 45 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.