Verus Mortgage Capital introduces Verus Commercial Real Estate Finance
(NEW YORK, September 9th, 2020) – Verus Mortgage Capital has designated a new division, Verus Commercial Real Estate Finance (“VCREF”) to pursue origination opportunities in commercial real estate credit. VCREF is a balance sheet commercial real estate direct lender that will provide capital for a wide range of real estate asset classes nationwide.
VCREF’s senior team, which includes Kenneth Witkin and Ricardo Koenigsberger as Co-Presidents and Anthony R. Iervolino as Managing Director, has extensive experience in the commercial real estate business and prides itself in structuring transactions to achieve the diverse goals of its clients. VCREF seeks to add value by providing the most innovative, creative, and quickest lending solutions.
VCREF will initially specialize in offering bridge loans for acquisitions, refinancing, restructurings, discounted payoffs, lease-up stabilizations, and other special situations. Asset types include: Condo Inventory, Hotels/Hospitality, Industrial, Luxury Residential, Investment Properties, Mixed-Use, Mobile Home Parks, Multifamily, Offices, Parking, Retail, and Self-Storage. VCREF’s financial products include Senior Loans, B-pieces, Mezzanine Loans, and Preferred Equity. Targeted loans range in size from $1mm to $25mm.
- Loan size ranging from $1mm-
- Terms of 1-2 years plus extensions
- Rates starting at 7.5%
- Loan to value up to 80% on Multifamily. All other asset types up to 70%
- Loan to cost up to 80%
- Origination fees of 0%-2%
- Security 1st & 2nd Mortgage, Equity Pledge as applicable
- Funding time as little as 2 weeks
- Amortization interest only
- Prepayment anytime without penalty
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 (firstname.lastname@example.org) or Rick Koenigsberger (email@example.com) at 646-817-2900 or visit www.veruscref.com. Connect with VCREF on social @VCREF.