Regional Capital Closes $1.6 Million Dollar Bridge Loan Transaction
Business Park at Washington Crossing is a 27-acre parcel which will ultimately be improved into 150,000-square-feet of smart space, along with four parcels that will be either sold or developed as pad sites.
MARLTON, NEW JERSEY (DEC. 14, 2005) - Regional Capital Group, a national real estate lending and investment company, reports it recently closed a $1.6 million loan transaction for project known as Business Park at Washington Crossing. This project consist of a 27-acre parcel which will ultimately be improved into 150,000-square-feet of smart space, along with four out parcels that will be either sold or developed as pad sites.
Regional Capital Group provided acquisition financing for the first site, which consisted of five acres and now has included an additional site of five more acres as the developers continue assemblage of the various tracts. The project is located on US Route 301 in Manatee County , Florida . Due to Regional Capital Group's expertise and knowledge of the market and the flexibility of their funding capabilities they are able to provide the borrower with an approval within five days.
ABOUT RCG1
Announced in 2005, RCG 1 is a real estate fund designed specifically to accommodate loan requests that require funding for acquisition, land improvement, construction, rehab and reposition, bridge, joint venture, gap equity and mezzanine. The RCG 1 Fund is projected to close $100 million of loans in the new fund. Capitalizing on the extensive experience of the principals, this new fund will allow RCG to continue a creative approach to real estate lending. The company has specialized in “thinking out of the box” when structuring a loan. RCG will lend on bankable deals without the typical lengthy process of many lenders. This philosophy contributes to RCG being among the most expedient in the industry.
Reports RCG Founder Paul Braungart: "This fund allows RCG to accommodate the lending needs of developers and investors in an under served but rapidly growing area of the real estate lending arena.” The latest fund from RCG offers higher leverage than typical funding sources in some cases for commercial and residential projects. This allows the company to be a lower cost alternative to expensive equity and in many cases allows the borrower to deal with one funding source. RCG 1 will consider loan requests in both urban and rural areas.
ABOUT REGIONAL CAPITAL GROUP
Regional Capital Group, a Direct Commercial Real Estate Lender based in Marlton , New Jersey , provides unique financing for real estate. Regional Capital Group offers an alternative to traditional financing sources with creative loan programs for commercial and residential properties. Funding may take the form of debt, participating debt, equity or mezzanine. Regional Capital Group specializes in a variety of property types, including: multi-family, office, industrial, retail, mixed use, self storage, and residential tract development. Loan programs include land, land improvement, construction, bridge, project rehabilitation, Gap financing, conduit lending, mezzanine loans. For more information, visit Regional Capital Group online at http://www.regionalcapital.com or call (856) 983-4800.
