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June 25, 2010

Monroe & Giordano Arrange $7,000,000 MHC Conduit/Bridge Loan

Tampa, Florida—Monroe & Giordano, located in Tampa, Florida, the nations oldest independently owned and operated mortgage banking firm specializing in Manufactured Housing Community financing recently arranged financing on Winter Haven Oaks MHC in Winter Haven, Florida. This financing is the first conduit closing for the firm since October, 2008.

Winter Haven Oaks MHC received a conduit bridge loan of $7,000,000. The property, fronting on Spirit Lake Drive in Winter Haven, FL, is a 5 star age restricted community containing 342 sites on 85 acres. The community was developed in 1986 and is in the last stage of fill. Amenities include lake, clubhouse, two swimming pools, shuffleboard, RV storage, nature trail, and self storage units.

This transaction represented a continuation of an eleven year relationship and is the 20th loan arranged by M&G for the borrower. This is also the second time M&G has provided financing for Winter Haven Oaks.

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 813-229-5055.