Remington Capital – Joel A. Nathanson

I have observed that some clients get turned down for financing despite having very sound business plans. The reason that the requests are turned down often is as a result of a poorly prepared request. At remington we pride ourselves on creating financing requests that are presented in their most favorable light. Our industry experience has trained us to focus on the issues that our capital sources are most interested in.

For Close to two years, commercial real estate lenders have put off dealing with distressed loans. Although retail sales are on the rise, the amount of distressed owners in retail properties continues to grow. Until now, banks have spent most of their time resolving residential and construction loans. This year, they are turning their attention towards retail and office loans. Since this time last year, the amount of retail properties on bank balance sheets has more than quadrupled. The number of distressed properties has more than tripled. This is where Remington’s recapitalization program comes in.

In today’s challenging credit markets it’s important to have a strong capital markets division sourcing your capital. With both institutional and private investors still leary when deploying new money, its important to understand each investors specific investment strategy and guidelines. Here at Remington, our capital markets group works closely with over 500 capital sources up and down the capital stack. Having multiple capital sources available for any particular transaction is crucial because its not uncommon to have to present a deal to 15 or 20 capital sources before one ultimately says “yes”.

It’s no surprise the medical office sector will be the forth front for new construction projects that are obtaining financing. Both debt and equity players are lining up to capitalize on the increase in demand for this property type. It is predicted that an additional 32 million Americans will now be covered by the Affordable Care Act that that was passed in to law, and the current industry won’t be able to handle the influx of demand.

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There was an compelling article in today’s Mortgage Bankers newsletter.

http://www.mortgagebankers.org/tools/FullStory.aspx?ArticleId=9305#full

I’ve come to believe that delinquencies for CMBS loans will continue to rise due to aggressive lending practices especially in the hospitality sector. With vacancies increasing and cash-flow decreasing, commercial real-estate owners are forced to pledge additional cash to service the loans. There are other negative factors including investors overleveraging, lack of available short term debt, and a lack of personal liquidity. . . all forcing more properties to become delinquent at an ever-alarming rate. In too many cases many owners are simply turning over the keys to the property, OR, they are finding a way to recapitalize the capital stack.

At Remington we are experts in working the capital stack to our clients’ benefit. In addition our access to commercial capital is unmatched. When working with Remington you can be assured of fresh access to capital. Please give me a call and I’d be happy to discuss your financing options.  One new financing program introduced by our Chairman Andy Bogdanoff is for distressed owners – and we’re helping people every day find a way to successfully navigate these challenging times.

Thank you.  Joel Nathanson

Remington has a successful history of securing hard money capital and financial services to real estate owners and developers worldwide. We’ve been doing it since 1993.

Remington is an expert in hard money loans, a higher-risk loan that usually is based on the quick-sale value of a property. Hard money loans are often issued for financially distressed properties. We recommend hard money loans in cases where there is sufficient collateral and a promising business or financial plan.

We offer an extensive network of private and public lending partners, dramatically improving successful close rates for borrowers in need of a fast-closing loan. With a successful track record of closing hard money transactions, Remington delivers competitive transaction options even in these challenging market conditions.

Hard money loans may be issued for non-traditional properties or borrowers – including property owners who may have missed a mortgage payment or real estate developers that are looking for immediate support.

Remington looks for companies that operate in expanding market sectors including specialty manufacturing, resource development and service providers. Remington will consider securing financing on a diverse variety of commercial properties including mixed-use, apartment buildings, assisted care facilities, business investment capital, corporate loans, commercial real estate, special purpose properties (such as car washes), construction loans, hotels, land development, retail, office and industrial properties.

A hard money loan is easily recognized by distinguishing characteristics including its ability to close quickly. Although a hard money loan typically carries a higher loan to value and more costly rates and fees, borrowers continually turn to this specialty loan because it can move from start to close in 30 days.

If you are looking to move quickly to take advantage of a low-cost property, to avoid foreclosure or any other issue, please give me a call and let’s discuss the hard money option.  Thank you.  Joel Nathanson

I’m working every day with owners, developers and brokers on a variety of financing opportunities.  At Remington we have the best access to commercial capital, with hundreds of active funding sources.

Listed below are some of the financing programs that are currently available. Call and let’s talk about getting your transaction closed.

Senior Debt/Equity Financing

• All Property Types
• $500,000 and Up ($5 Million and Up Internationally)
• Acquisition, Development, Refinance, Bridge, Principal Buyout, Special or Story Situations

Mezzanine/Bridge Loan Financing

• All Property Types
• $500,000 and Up ($5 Million and Up Internationally) 
• Aggregate Leverage up to 85%
• Loan Term up to 8 Years
• Amortization up to 25 Years
• 11% – 14% Annual Interest Rate
• Non-recourse Subject to Carve-outs

Joint Venture Financing

• 100% Financing
• Construction, Developments & Acquisitions
• $500,000 and Up ($5 Million and Up Internationally)

Multifamily

• Existing Apartment Properties with 5+ Units
• Mobile Home Parks
• Limited Mixed Use
• $500,000 and Up ($5 Million and Up Internationally)
• Nation Wide
• 6 month, 3, 5, 7, & 10 Year Fixed Terms
• 15-year Fixed Fully Amortized
• Bank Rates
• Minimum DSC 1.20
• 80% LTV for Purchase, Rate & Term Refinance
• 75% LTV for Cash-out Refinance