GenX Capital Partners Close $605K Loan Through Their New Hard Money Platform
Miami, Florida-based GenX Capital Partners, one of the premier boutique real estate investment banking firms in the U.S., launched their new hard money platform in June, starting out with a $605K bridge loan that closed in under 26 days after term sheet.
MIAMI, July 8, 2018 (Newswire.com) - GenX Capital Partners has been extremely active over the past 12 months, closing in excess of $50+ million in JV equity for viable commercial real estate projects in addition to acquiring assets for their own portfolio. They have now dipped their toe into the hard money sector, launching their private money lending platform for deals too small for their current equity and debt programs. Under their private lending arm, they can now do debt deals as low as $500,000 up to $3MM, with limited paperwork requirements and closing in under 30 days.
“We have been very active as of late underwriting LP equity and bridge debt, typically on projects in excess of $10MM to $100MM, but in the interim have received a lot of referrals for smaller deals due to our success and ability to close quick and efficiently and have had to turn them away as they didn’t fit the parameters of our equity and bridge partners. So we aligned ourselves with a group of extremely high net worth individuals, their own funds and smaller equity firms here in the States and in Europe that are thirsting for higher returns on their funds and in the process, created our new private money lending platform for deals from $500K to $3MM utilizing their capital,” GenX Capital Partners Managing Director Mark McClure stated.
While GenX Capital Partners focuses on first- and second-tier markets throughout the U.S., they have the ability to fund almost anywhere, as evidenced by their recent closing in Augusta, Maine.
“We are in a market (Augusta, Maine) that is sort of off the beaten path for typical bridge lending and institutional equity, and we had a time-sensitive refinance that needed to be done by end of June. We have worked with GenX in the past, knew of their extensive track record and reached back out to them. Not only did Mark get us a term sheet within 72 hours, closed 26 days later, but got us the full $605,000 we asked for. Their ability to fund deals, both debt and equity, is unparalleled,” stated Kevin Mattson, CEO of Dirigo Capital Advisors.
To learn more about GenX Capital Partners Private Money Lending program, go to http://genxcp.com/private-money-lending/. Limited paperwork, deal-driven and quick closings.
Source: GenX Capital Partners
