LOS ANGELES, CA - RealtyMogul.com, the online marketplace for real estate investing, announced the company has received $250MM in direct commitments from large institutional investors, who have sizable balance sheets and want to work with a leader in the online capital markets space.
These financial commitments will allow RealtyMogul.com to offer two new products to commercial real estate borrowers. The first is a three to five year, floating rate bridge product in the four to six percent range; the second product is a fixed rate program which primarily follows the standards set by the Commercial Mortgage-Backed Security (CMBS) securitization market and is priced in the four percent range.
“Although CMBS loans have existed offline for some time, this is the first time an online marketplace is able to offer a competitively priced CMBS loan,” said Jilliene Helman, CEO of RealtyMogul.com. “Through these institutional capital commitments we have secured, RealtyMogul.com sets the stage to transform real estate capital markets forever.”
Historically online marketplaces have been known for creating higher-yielding debt. This new offering from RealtyMogul.com has the potential to change the landscape of real estate finance, and should greatly impact the financing options of borrowers.
“This is the first time an online marketplace has introduced a product online in the three to four percent range,” said Helman. “We are very proud to be redefining real estate lending online.”
Source: RealtyMogul.com / #RealEstate #Finance