Verus Mortgage Capital, a finance agency specializing in non-qualified mortgages, has launched a brand new division to serve self-storage and different business actual property sectors. Verus Business Actual Property Finance (VCREF) will probably be managed by co-presidents Ricardo Koenigsberger and Kenneth Witkin, with Anthony Iervolino as managing director, in keeping with a press launch.
By way of this new division, the agency will pursue “origination alternatives in business actual property credit score,” specializing in bridge loans for acquisitions, discounted payoffs, lease-up stabilizations, refinancing and restructurings, and different particular conditions. VCREF will even provide different monetary merchandise resembling business mortgage-backed securities loans, mezzanine loans, most well-liked fairness and senior loans.
Along with self-storage, capital will probably be obtainable to condominium stock, motels/hospitality, industrial, funding properties, luxurious residential, mixed-use, mobile-home parks, multi-family, workplaces, parking and retail, the discharge acknowledged.
Based in 2015 and primarily based in Washington, D.C., Verus Mortgage Capital gives alternative-lending options by means of its partnerships with greater than 100 correspondent lenders. Backed by Invictus Capital Companions, the corporate has bought almost $5 billion in non-agency loans to this point, together with owner-occupied (shopper) and investor (business-purpose) loans.
Mortgage Skilled America, Non-QM Investor Launches Commercial Real Estate Division