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August 3, 2010

Monroe & Giordano Arrange $9,000,000 MHC LifeCo Loan

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 Mas Verde MHC in Lakeland Haven, Florida. This financing is one of the first Life Insurance Company closings for the firm since the market dried up in 2008.

Mas Verde MHC received a permanent fixed interest rate loan of $9,000,000. The property, fronting on Harden Boulevard in Lakeland, FL, is a 5 star age restricted community containing 403 sites on 50 acres. The community was developed in two phases in 1982 and 1986 and is in the last stage of fill. Amenities include lake, clubhouse, swimming pools, shuffleboard, RV storage, and RV storage.

This transaction represented a continuation of a twenty year relationship with the borrower. This is also the second time M&G has provided financing for Mas Verde/Lakeland.

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.