Regional Capital Closes $3.2 Million Dollar Bridge Loan Transaction
MARLTON, NEW JERSEY (May 14, 2007) - Regional Capital Group, LLC, a national real estate lending and investment company, reports it recently closed a $3.2 million bridge loan for a mixed use project located in Westtown Township, PA. Located in Chester County, the project is located next to an assisted living complex, a daycare center and a bank.
The borrower previously developed the site with the intention of building the project, which is proposed for 64 active adult units in two buildings and a 40,000 square foot office building. This project is located in a very good market and has been sought by a number of local developers. As a result of this interest in the project, the borrower elected to sell the project. RCG’s loan provides the borrower needed to time to complete the transactions.
ABOUT REGIONAL CAPITAL GROUP
RCG is a private short term real estate lender focused on creative funding solutions. The team at RCG brings extensive experience in all aspects of real estate lending, investment and development. Funding programs include every piece of the capital stack which may be structured as senior debt, mezzanine, participating loans or equity. We take pride in the ability to provide immediate feedback to a borrower and to structure a unique and timely solution to an untraditional funding request.
A direct commercial lender with over 50 years of combined experience and total funding of asset-based loans in excess of $3 billion, RCG was founded over 10 years ago by Paul P. Braungart with the fundamental philosophy of providing clients with a creative and specialized source of funds with maximum flexibility. As our portfolio grows,
RCG continues to create innovative loan structures to meet the increasing demands of our specialized clients.
RCG provides viable alternatives to requests that are outside of traditional lending parameters or require a timely closing to take advantage of an opportunistic situation.
Our experience has taught us how to recognize opportunities that other lenders and investors may have overlooked. Loan types include Land, Land Improvement & Development, Construction and Bridge funding. Acceptable property types are Residential Spot Lot or Tract, Multifamily, Urban Rehab, Mixed Use, Office, Retail, Industrial and Self Storage. Other property types are considered on a case by case basis. When we are presented complete information, loan turn around time is among the most expedient in the industry.