May 3, 2019 Comments Off on Money360 Closes Quarter Billion in CRE Loans Views: 727 California News, Orange County

Money360 Closes Quarter Billion in CRE Loans

Order Reprints...

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

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , ,

Comments are closed.

Send this to a friend