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May 27, 2017

Florida Manufactured Home Community Financed by Monroe & Giordano

Monroe & Giordano, a Tampa based Mortgage Company, arranged through its national lending sources, a permanent loan of $10,480,000 on Palm Haven Manufactured Home Community in St. Petersburg, Florida. The borrower is a long time client of Monroe & Giordano. The long term, non recourse loan had an interest rate of 4.57% amortized over 30 years. This is the third time in 10 years M&G have financed this community.

Palm Haven MHC is an age restricted community consisting of 270 sites on 19 acres. The 95% occupied community was built in 1952. Amenities include clubhouse, swimming pool and shuffle board.

J. Cary Monroe, Michael B. Giordano, Matt Gentile and Glenda Rice with over 80 years of combined 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.