Money360 Closes $1 Billion in Commercial Real Estate Loans Given Strong Demand for Tailored Financing Solutions
LADERA RANCH, Calif., Dec. 03, 2018 (GLOBE NEWSWIRE) — Money360, a technology-enabled direct lender specializing in commercial real estate (CRE) loans, today announced it has surpassed $1 billion in loans originated and closed since inception. The announcement comes just 11 months after the company announced it had surpassed $500 million, signaling unprecedented growth for the firm and a growing appetite among CRE borrowers for more flexible financing solutions than traditionally offered.
“From the beginning, Money360 has been committed to revolutionizing the commercial real estate lending industry,” said Evan Gentry, Founder and CEO of Money360. “We built the company with a highly seasoned team that possesses exceptional credit experience through all market cycles, and an origination team with deep local market expertise. Our proprietary technology and efficient back office drive a fast, reliable and transparent lending process to create a best-in-class market solution. Our first $1 billion milestone underscores our success in becoming a market leader by providing a more streamlined and client-friendly solution for brokers and property owners to obtain financing, and we expect to hit the second billion in 2019.”
Since the company’s launch in 2014, Money360 has transformed the commercial real estate lending process for borrowers, brokers and investors. As new regulation limited the types of projects that could obtain traditional bank financing and lengthened the time banks required to process loans, Money360 created an alternative by providing custom loan structures for properties in transition, and by offering a streamlined lending process that ensures efficient loan execution.
Money360’s proprietary end-to-end loan origination system, 360Live, facilitates connection between the borrowers and mortgage brokers involved in a real estate financing transaction so that all parties are kept informed of status, outstanding needs, and time to close. The added efficiency and transparency of the My360 portal allows all parties to focus more on their business.
Over the past few years, Money360 has grown its team to 37 staff members, adding personnel to the Midwest, Southwest and Western Regions, enhancing Money360’s local market expertise across the United States.
Money360 is represented by influential industry leaders on its Board of Advisors, including former Citigroup President John Havens, former President of T. Rowe Price Global Investment Services, Todd Ruppert, and Ron Suber, Prosper Marketplace president Emeritus.
Money360 has been recognized with several industry distinctions, including:
- Real Estate Finance and Investment’s 2018 Innovator of the Year
- Orange County Business Journal’s 2018 Innovator of the Year nominee,
- Orange County Business Journal 2017 Excellence in Entrepreneurship Distinction, and
- Top five real estate fintech company by Deloitte.
M360 Advisors, Money360’s affiliate investment management company, also achieved a significant milestone in 2018, reaching more than $650 million in gross assets under management. This growth has been spurred by ongoing interest from U.S. and foreign institutional investors, and a successful registration with the South Korea Financial Supervisory Service (FSS). Most recently, M360 Advisors completed a $329.7 million CRE CLO that was well received by the market.
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 $25 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.
About M360 Advisors
M360 Advisors is a U.S.-based investment management company that manages alternative investment vehicles for institutional and accredited retail investors. M360 Advisors’ fund offerings are designed to provide a short-duration, high-yield, low-volatility alternative to traditional fixed income investments, while also providing significant collateral protection and reasonable liquidity. Fund offerings are designed for international tax efficiency and have attracted institutional investors throughout the world. M360 Advisors benefits from proprietary deal flow sourced by its affiliate, Money360, Inc., a vertically-integrated direct lender that originates commercial real estate loans collateralized by office, industrial, multifamily, hospitality and retail property types. Investors can lean more at www.m360advisors.com.
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