Commercial real estate marketplace lender Money360 finished off 2016 on a high note, by closing a record $35.6 million in commercial real estate loans in December.
A total of five properties in California, Florida and Illinois were financed for terms of between one and two years and all were collateralized with first-lien positions on the properties. They included a three-building industrial complex, seven-building anchored retail property, three-story office building, suburban office property and an office property being re-entitled for multifamily development.
“Money360 continues to gain traction in the marketplace lending industry,” said Founder and CEO Evan Gentry. “Given our current trajectory, we anticipate 2017 to be a banner year with the solid performance of our platform reflecting a heightened demand on the part of both borrowers and investors in the commercial real estate space.”