Money360, a technology-enabled direct lender specializing in commercial real estate (CRE) loans, has surpassed half a billion dollars in loans closed since inception.
This includes $357 million in loans closed for the year 2017. The milestone comes on the heels of other recent successes for Money360, including the initiation of a partnership with Ten-X, the nation's leading online real estate transaction marketplace, in which Money360 works to accelerate commercial real estate transactions for buyers, sellers and brokers by offering pre-approved financing for qualified properties and buyers.
“Over the past several years, Money360 has become the go-to source for competitive commercial real estate loans by offering speed, efficiency and transparency to borrowers and investors,” said Evan Gentry, Money360 founder and CEO. “As traditional lenders face constraints and uncertainty, we expect to see continued demand for alternative, tech-enabled direct lending in 2018.”
Money360 specializes in bridge and permanent loans of $1 million to $20 million. Recent loans closed during the period include:
- A $7.8 million bridge loan for an office property in Evansville, Indiana, brought to Money360 by Benjamin Kadish at Maverick Capital
- A $7.5 million bridge loan for a full-service hotel in Cromwell, Connecticut, brought to Money360 by Rushi Shah at Conlon Capital
- A $6.8 million bridge loan for a nationwide portfolio of Pier 1 retail properties, brought to Money360 by Al Dannatt at Commercial Resource Capital
- A $6.8 million bridge loan for a mixed-use center in Charleston, South Carolina, brought to Money360 by Dominick Scorzo at Ivenhoe Capital Advisors
- A $4.4 million permanent loan for a retail center in Mount Olive, New Jersey, brought to Money360 through our partnership with Ten-X
- A $4 million bridge loan for an office building in Amarillo, Texas, brought to Money360 by Steve States at States Mortgage
- A $3.2 million bridge loan for a retail center in Santa Fe, New Mexico, brought to Money360 by Martin Chera at Express Mortgage
Money360 is a nationwide, tech-enabled direct lender that offers borrowers speed, convenience and reasonable terms on commercial real estate loans from $1 million to $20 million. The company also provides investors direct access to attractive fixed income investments secured with a first-priority lien against income-producing commercial real estate. Money360's investment management company, M360 Advisors, manages diversified fund vehicles on behalf of investors.
