Commercial real estate marketplace lender Money360 announced today the more than $45 million in loans it closed in April sets a company record and places it on course to top $500 million in loans by year-end.
“This is a record-breaking month for our company,” Money360 founder and CEO Evan Gentry said. “The volume of deals we’ve experienced in just one month, coupled with our company growth, sets a strong precedent for the rest of 2017, and we’re committed to maintaining high standards for our expansive base of investors and borrowers in the U.S. and around the world.”
None of the properties involved in the $45 million total exceed a 75 per cent loan-to-ratio value. Highlights include a $9.7 million bridge loan for a hotel in Fayetteville, NC, an $8.5 million bridge loan on a office building in Orange County, CA, and a $7.7 million bridge loan on a medical office building in San Jose, CA.