May 3, 2019 Comments Off on Money360 Closes Quarter Billion in CRE Loans Views: 304 California News, Orange County

Money360 Closes Quarter Billion in CRE Loans

Ladera Ranch, CA-based Money360 surpassed another quarter billion dollars in loan closings. That pushes the technology-enabled direct lender closer to its target of $2 billion in transactions originated and closed since inception by year-end.

Over the past six months, Money360 experienced a surge in demand for financing of multifamily, properties, primarily in growing tier-two cities throughout the U.S., such as Memphis, Detroit and Sacramento.

Money360’s Evan Gentry says, “Bridge financing is critical — particularly for borrowers transitioning from construction financing to a bridge loan while the property is leasing up, prior to permanent bank financing.”

Recent notable loans include:
– a $28 million bridge loan for a high-rise multifamily apartment building in Hattiesburg, MS, brought to Money360 by Black Diamond Capital’s Scott Jansen.
– a $25.8 million bridge loan for a university housing multifamily building in Philadelphia, brought to Money360 by Allied Commercial Capital’s Steve Stadlin.
– a $23.1 million bridge loan for a community retail center in Christiansburg, VA., brought to Money360 by NorthMarq Capital, Inc.’s Andrew Pennington.

Connect With Money360’s Gentry


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