Offers Main Street Access to Wall Street Finance and Advisory
NEW YORK, Sept. 17, 2014 /PRNewswire/ — R3 Funding, a national lender correspondent and advisory firm based in New York, has arranged over $150 million in originations in its first 12 months. This figure is in addition to $450 million in workout advisory services, provided across 22 separate deals. The announcement was made by Ray Potter, founder and managing partner of R3 Funding.
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With its hands on, principal level steering of both originations and workouts, R3 Funding has in a short time distinguished itself by providing customers in secondary and tertiary U.S. markets access to Wall Street as well as an array of national lenders. In addition to CMBS lenders, R3 works with the GSEs and other lenders.
"Our focus and our sweet spot continue to be in using relationships we've built over decades in the business to provide Main Street with access to Wall Street and beyond," said Mr. Potter. "These transactions certainly demonstrate that commitment. Those same relationships also give us the ability to offer significant resources for workout situations."
The company's command of these markets and the breadth of the financing options it provides is evidenced in the four most recent originations.
- In Rochester, New York, R3 arranged a $20.3 million floating rate CMBS loan for a 155-key full service hotel.
- A $5.8 million fixed rate CMBS loan was arranged for a 1960s apartment complex in Gates, New York.
- R3 arranged $3.6 million in fixed rate CMBC financing for Autumn Chase apartments, a 76-unit corporate housing community in Columbus, Ohio.
- In Rochester, New York R3 arranged a $5.4 million fixed rate CMBS loan for a newly constructed mixed-use property that had historic tax credits in place. The property consists of 26,600 square feet of commercial space and 20,846 square feet of apartments.
The $150 million in originations also includes a variety of asset types—including student housing, manufactured housing, multifamily and hotels. The geographic spread of the deals reaches from Detroit, MI to Houston, TX to Jacksonville, FL.
About R3 Funding
R3 Funding is a National Lender Correspondent and advisory firm providing mortgage brokers and borrowers access to various national lenders, with secondary market debt products for long-term, fixed and floating rate, non-recourse commercial real estate loans. They are hands on throughout the entire process, even presenting to the credit officer. Founded by noted banking and Wall Street finance executive Ray Potter, R3 structures and arranges both debt and equity transactions to optimize clients' return on investment, offers very competitive commercial loan rates, and most importantly, closes deals per the terms of the applications. The company brings its experience structuring more than $20 billion in commercial real estate transactions and deep-rooted relationships within an extensive list of financial institutions to work for its clients. In addition to its work in origination services, R3 also specializes in advisory services for commercial real estate owners who need help navigating the loan restructuring and workout process with CMBS servicers and balance sheet lenders. Since 2013, R3 has closed over $150 million in originations and workout situations valued in excess of $450 million. For more information visit http://www.r3-funding.com/
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