September 26, 2011

Monroe & Giordano Arrange $1,575,000 Financing on Florida Manufactured Home Community

Tampa, Florida—Monroe & Giordano, a Tampa-based mortgage company, arranged through its national lending sources a permanent loan of $1,575,000 on The Arbors of Ocala Manufactured Home Community in Ocala, Florida. The lender was a small balance GSE, which provided a 10-year loan with a 3-year amortization. The interest rate was 5.17%.

The Arbors of Ocala Manufactured Home Community is a 4-star retirement community, built in 1986. It contains 65 sites with approximately 42 double wide homes on 6.5 acres. There are four unoccupied sites that have never been occupied. Water and sewer are provided by the city. Amenities include a clubhouse and shuffleboard.

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.