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June 7, 2012

Monroe & Giordano Arrange $17,000,000 Financing on Arizona Manufactured Home Community

Monroe & Giordano, a Tampa based Mortgage Company, arranged through its national lending sources, a permanent loan of $17,000,000 on Dolce Vita at Superstition Mountain Manufactured Home Community in the Apache Junction suburb East of Phoenix, Arizona. This community is ƬCorporate BrochureƮ quality.

Dolce Vita Manufactured Home Community is a 5 star Retirement Community in the shadow of Superstition Mountain. Built in ten phases since 2000 on 137 acres the community is in the fill stage. There are 720 total sites of which 484 are leased. All are top quality double or triple wide homes. Density is a very low at 3.53 sites per acre today and will be 5.25 upon completion of the leasing. Water and Sewer are municipal and paid by each resident. Amenities include a first class clubhouse with exercise room, two swimming pools, two spas, tennis courts, RV Storage, shuffleboard, amphitheater, and putting green.

The loan was rate locked and closed with a national life insurance company at a fixed interest rate of 4.22% for 10 years amortized over 30 years.

J. Cary Monroe, Michael B. Giordano, Matt Gentile and Glenda Rice with over 60 years experience in commercial real estate lending, have established the commercial mortgage banking firm of Monroe & Giordano which is active all over the 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.