LADERA RANCH, Calif., Sept. 18, 2019 (GLOBE NEWSWIRE) — Money360, a technology-enabled direct lender specializing in commercial real estate (CRE) loans, announced today it closed approximately $170 million in loans during July and August. This benchmark brings Money360 close to $500 million in loans closed this year.
“Just a few months ago Money360 introduced new technology in the My360 portal to increase the ease of communication between loan applicants and underwriters throughout the loan application process, and I’m so pleased to see the success of this proptech bear out in Money360’s results,” said Evan Gentry, CEO of Money360. “Money360 has passed another important milestone closing $1.5 billion in loans since inception, and I am so grateful to our expansive team of experts for their dedication to providing the best tailored service to commercial mortgage borrowers.”
Recent notable closed loans include:
- A $27.5 million bridge loan for an industrial business park property in Cedar Park, TX.
- A $21.4 million bridge loan for a suburban office property in Frisco, TX., brought to Money360 by Chris Chase at Chase Financial.
- A $16.2 million bridge loan for an office-R&D property in San Jose, CA., brought to Money360 by Robert Sherrard at Argus Financial Corporation – San Mateo Corporate.
- A $13.5 bridge loan for a community center in Louisville, KY., brought to Money360 by Mark Reichter at Q10 / Triad Capital Advisors, Inc.
- A $13.2 million bridge loan for an office/multifamily property in Rochester, NY., brought to Money360 by Sean Lavin at NorthMarq Capital, Inc.
- An $11.3 million bridge loan for an office/retail property in Sacramento, CA., brought to Money360 by Eric Mcglynn at Walker & Dunlop.
Money360 continues to see borrower demand across asset classes, including industrial, mixed-use, office and retail properties.
Money360 is a vertically-integrated, nationwide direct lender that sources, underwrites, closes and services small- to mid-balance commercial real estate loans ranging in size from $3 million to $30 million. Through the seamless union of world-class technology and irreplaceable human expertise, Money360 delivers a smarter, simpler, and more transparent experience from origination to servicing. Borrowers can learn more at www.money360.com.
Carly Hall // email@example.com
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