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July 1, 2010

Monroe & Giordano Score MHC Loan of $13,442,000

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 through its national lending sources a permanent loan of $13,442,000. The recipient was Sun Valley Manufactured Home Community located in Clearwater, Florida.

Sun Valley Manufactured Home Community received a $13,442,000 GSE loan with a 10 year term, amortized over a 30 year period. The property, located off US Highway 19 North in the Tarpon Springs area of Clearwater is a 5 star, age-restricted community containing 264 sites on 40 acres. The 97% occupied community was developed in 1972. Amenities include numerous lakes, clubhouse, swimming pool, shuffleboard, card room and RV/boat storage.

This transaction represented a continuation of a long term relationship and is the 7th loan arranged by M&G for the borrower. This is also the second time M&G has provided financing for the community.

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 has proven it has the ability to provide its borrowers creative solutions based on each borrower’s unique needs.

Monroe & Giordano has offices in Tampa, Florida and may be reached at 813-229-5055.