Remington Financial Group

A home builder that is based in the state of New Jersey wanted to increase the diversity of its real estate holdings with revenue-generating real estate. They did not have sufficient equity to acquire new real estate because most of their capital was in home construction and lot inventory. The thing they did maintain was a contract of sale on a property. The builder was able to secure one hundred percent financing towards the purchase of the apartment builiding in Wimington, DE, because of his awareness of RFG and its capabilities.

Remington Financial Group had the ability to show its shareholder that the builder’s proposal created value for any joint venture equity investor. Competitively priced LTV financing, starting at 80 percent, was achieved by putting down 100 percent equity on the initial deal. The money received turns into a equal share of the profits. RFG’s Philadelphia office is where the transaction originated from.

In order to secure a mezzanine financing to compliment its senior financing, an Ohio based developer engaged Remington Financial Group but can’t provide eneough leverage to finish required improvements to a medical office building. The building located in Ohio was occupied below the market average due to mismanagement. The developer was forced to use a short term low leverage acquisition bridge loan because of the quick closing. TYo make the property attractive to tenants, more money was required. The difficulty of the project required a knowledgeable lender that understood the circumstances and was able to understand the developer’s issues with the proposed deal. Most formulaic mezzanine lenders were not willing to absorb the deal’s lease-up and market risks combined with the added risk of relatively high priced debt in the senior position.

Remington Financial Group collaborated with the developer, conceptualized a well-balanced awareness of the market, and was satisfied with the property’s lease-up scheme. By analyzing the risks and delivering the deal, it payed off $1.In just about ten days, the 5MM mezzanine loan

Shortly after closing, the developer secured a lease and required additional capital to continue with building improvements. By adding to the principal balance of the mezzanine loan, Remington Financial Group was about to deliver an additional one million dollars in four weeks after the initial closing The developer awarded RFG the senior mortgage refinancing based on their satisfaction with Remington’s execution of the mezzanine loan assignment.