LADERA RANCH, Calif., [June 13, 2018] (GLOBE NEWSWIRE) – Money360, a technology-enabled direct lender specializing in commercial real estate loans, today announced it has surpassed $750 million in loans closed since inception. This includes $82.5 million in loans closed in May 2018.
“Money360 has shown an incredible capacity to scale and meet the needs of our borrowers by leveraging our tailored loan structures and our highly experience team committed to delivering exceptional customer service,” said Evan Gentry, Founder and CEO of Money360. “As the commercial real estate industry prepares for a new phase in the real estate cycle, Money360 will become an even more crucial source of capital for owners seeking to secure financing and liquidity.”
Money360 specializes in bridge and permanent loans of $1 million to $20 million. Notable loans closed in 2018 include:
- A $26 million bridge loan for a specialty retail center in Punta Gorda, FL, brought to Money360 by Mark Reichter at Q10 / Triad Capital Advisors, Inc.
- A $15.6 million bridge loan for an office building in Houston, TX, brought to Money360 by Rich Perry at Churchill Commercial Capital
- A $17.25 million bridge loan for a medical office in Newport Beach, CA, brought to Money360 by Scott Monroe at NorthMarq Capital, Inc.
- A $7.9 million bridge loan for Raytheon’s industrial space in Albuquerque, NM, brought to Money360 by Jake Clopton at Clopton Capital
- A $9.2 million bridge loan for a neighborhood center in Tulsa, OK, brought to Money360 by Mark Reichter at Q10 / Triad Capital Advisors, Inc.
- A $5 million bridge loan for an office park property in South Bend, IN, brought to Money360 by Dean Giannakopoulos at Marcus & Millichap Capital Corp.
- An $5 million bridge loan for a manufactured housing property and park in West Sacramento, CA, brought to Money360 by Jake Clopton at Clopton Capital
- A $3 million bridge loan for a mid/high rise multifamily building in Detroit, MI, brought to Money360 by Robert Krupka at Gelt Financial
- A $2.3 million bridge loan to a self-Storage building in Panama City Beach, FL, brought to Money360 by Doug Brooks at Marcus & Millichap Capital Corporation
- A $1.6 million bridge loan to a multifamily building in Macon, GA, brought to Money360 by Naveed Khan
In addition to record loan generation activity, Money360 has continued to expand its presence across the US, hiring Jon Mettel as a new Regional Director of Originations in the Southeast Region. Mr. Mettel will be based in Charlotte, NC leveraging his decades of experience with Hunt Mortgage Corporation, Bayview Financial, Silver Hill Financial, Bridger Commercial Funding, SL Capital, American Real Estate Capital, B2R Finance and PennyMac Loan Services.
The company has also added several new commercial real estate loan administrators and analysts to its Ladera Ranch headquarters as loan volume continues to grow.