Verus Commercial Real Estate Finance Introduces Single Family Portfolio Loan Product
NEW YORK – January 4, 2021 – Verus Commercial Real Estate Finance (VCREF), a division of Verus Mortgage Capital (VMC), is pleased to announce a new product for the financing of Single Family Home Rental Portfolios. It is the first new product for VCREF, in addition to its traditional bridge loan business, which focuses on origination opportunities in commercial real estate credit.
“We are excited to introduce a product that is both synergistic with Verus Mortgage Capital’s residential business, as well as scalable for VCREF’s growing business,” said Rick Koenigsberger, Co-President of VCREF.
Lending Parameters of the Single-Family Portfolio product include:
- Minimum of 5 (SFR – 1 Unit) properties or 3 (2-4 unit) properties
- 5-20 unit properties, warrantable condominiums, modular homes, leaseholds
- 5, 7 and 10-year fixed loan with both interest only and amortizing options
- Loan sizes of $500,000 – $15 million
- Purchase, Rate/Term Refinance, Cash Out Refinance
- Up to 75% LTV
- Non-recourse or Limited recourse
About Verus Commercial Real Estate Finance
Verus Commercial Real Estate Finance (VCREF) seeks to originate single family home rental properties and bridge loans that have features and characteristics specifically tailored to accommodate each borrower’s business strategy. Such loans are typically offered with relatively short terms and may utilize floating or fixed interest rates. VCREF aims to make loans across all levels of the capital stack, and it targets many different asset classes. VCREF is a subsidiary of Verus Mortgage Capital (www.verusmc.com).
For more information, contact Co-Presidents Kenneth Witkin (email@example.com) or Rick Koenigsberger (firstname.lastname@example.org) at 646-817-2900 or visit www.veruscref.com. Connect with VCREF on social @VCREF.