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June 24, 2011

M&G Score RV Park Loan of $5,250,000

Tampa, Florida—Monroe & Giordano, located in Tampa, Florida, the nations oldest independently owned and operated mortgage banking firm specializing in RV and Manufactured Housing Community financing, recently arranged through its national lending sources an acquisition loan of $5,250,000. The recipient was Chicago-based Bay Bayou Florida RV Resort, LLC, which purchased Bay Bayou RV Park located on Double Branch Creek in Tampa, Florida.

Bay Bayou RV Park received a $5,250,000 bank loan with a 5-year term, amortized over a 25-year period. The waterfront property, located off Memorial Hwy. in northwest Tampa, is a 5-star, age-restricted community containing 241 sites on 24 acres. Phase I of the well-occupied resort was built over 30 years ago, with Phase II being 13 years old. Amenities include waterfront sites leading to Upper Tampa Bay, clubhouse, swimming pool, shuffleboard, card room, and RV/boat storage.

This transaction represented the second time in 10 years that M&G arranged financing for the purchase of this property.

J. Cary Monroe, Michael B. Giordano, and Glenda Rice, with over 65 years 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 812-229-5055.