Remington Financial Group has direct access to capital sources and has since 1993 built a successful track record of securing the most challenging debt, mezzanine, and equity capital transactions in the US and internationally.
Remington has an experienced and innovative advisory service team with the highest integrity. Clients rely on Remington to be their best access to commercial capital.
The firm is highly regarded for its integrity, creativity, and advocacy on behalf of its broker network and clients.
Throughout due diligence, Remington provides clients with the status of their transaction and proactively works to overcome obstacles before they become barriers to a successful close.
Delivering exceptional service throughout the financing process, Remington offers a variety of creative financing options with highly competitive rates for conventional financing, hard-money loans, bridge loans and construction loans.
Remington has the industry's most experienced Capital Markets Group. We spend every working hour finding and vetting new alternatives to traditional bank financing. Remington has global capabilities, with minimum loan amounts of $500,000 in the US and $5,000,000 for international transactions.
At Remington you'll find the most skilled professionals and private investors. We turn problematic transactions into closings.
Remington Financial Group, Inc. - Available Programs
Senior Debt
All Property Types and Corporate Purposes
$500,000 Minimum in the US and $5,000,000 Internationally
Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance
Mezzanine Debt
All Property Types and Corporate Purposes
$500,000 Minimum in the US and $5,000,000 Internationally
Aggregate Leverage up to 85%
Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance
Preferred Equity
All Property Types and Corporate Purposes
$500,000 Minimum in the US and $5,000,000 Internationally
Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance
Equity
All Property Types and Corporate Purposes
$500,000 minimum in the US and $5,000,000 Internationally
Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance
Joint Venture Financing
All Property Types and Corporate Purposes
$500,000 minimum in the US and $5,000,000 Internationally
Active Investment
Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance
Remington Arranges Specialized Financing For The Following Property Types and Business Purposes:
Land
Industrial
Multifamily
Office
Retail
Mixed Use
Hospitality
Medical Office
Healthcare Facilities
Senior Housing
Student Housing
Special Purpose
Restaurant
Self Storage
Manufactured Home Parks
Business Working Capital
Business Investment Capital
Entertainment & Multimedia
Franchises
Bridge Loans
Business Loans without Real Estate
Hard Money
Remington Financial Group, Inc. - Loan Process
Remington Financial Group brings unique insight, strategy, and experience to the dynamic process of capitalizing real estate and other business transactions. With expertise across the capital stack from debt to sponsor equity, Remington develops and executes financial structures that enhance value.
Our process supports the success of our clients.
Submit business plan / executive summary.
Pre-qualification determination process - project is reviewed and evaluated resulting in: The project being accepted, Proposed revisions being issued for the project, or The project being declined
Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued.
Due-Diligence document checklist of typically requested data is prepared and sent to client
Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor; formal due-diligence commences.
Term Sheet/Conditional Commitment and/or Firm Commitment issued.
After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, we will deliver a site visit and market analysis.
Remington Financial Group, Inc. - Addresses Liquidity Crisis
Andy Bogdanoff recently addressed a meeting of industry representatives: "The commercial real estate industry is a disaster waiting to happen. With $1.2 trillion in commercial debt due to mature by 2013 and with U.S. banks in a deep liquidity crisis, real estate owners across the country are between a rock and a hard place."
Remington is doing something about it. To assist distressed owners, Remington will be announcing a new nationwide "investor-driven" recapitalization program that relies on private rather than banking sources of capital. We'll be leveraging our second-to-none access to commercial capital to support you and your clients in a tough situation.
"The new program ties together the expert capital advisory services of Remington with a nationwide network of well-funded private investors that are ready, willing, and able to recapitalize troubled commercial real estate assets."
Remington Financial Group, Inc. - Expert Advisory Services
Key to successfully closing even the most complex and challenging commercial financing transactions can be summarized as follows:
Knowledge of the market.
Experience in solving even the most problematic projects.
Creativity in restructuring transactions.
Ready access to hundreds of active capital sources.
Commitment to pull it all together.
The advisory services at Remington Financial Group combine all five attributes needed for success in today's tight market, especially for those commercial projects unable to obtain debt, mezzanine, or equity capital from conventional sources. Those companies most likely to benefit from our services include those:
Currently restructuring.
Emerging from bankruptcy.
Needing recapitalization.
Considering leveraged acquisitions.
On a tight timeline to access capital.
At Remington, our knowledgeable and experienced team of experts works closely with clients to evaluate and creatively restructure transactions into new financing opportunities. Combining this insightful advisory service with the strong relationships we have developed with hundreds of active funding sources, clients of Remington gain the industry's best access to competitive commercial capital available today.
About Remington Financial Group, Inc. - What's Happening in the Capital Markets
A supply and demand imbalance in the commercial real estate capital markets will provide investors with an unprecedented opportunity to generate equity-like returns for debt investments. This same imbalance presents Remington with an opportunity to assist more distressed developers and owners who seek financing.
The Liquidity Crisis
The supply of commercial real estate debt has shrunk dramatically, especially in the US. According to the Mortgage Bankers Association, CMBS represents some 20% of all commercial loans. Further compounding the liquidity problem is the fact that most commercial banks are not in a position to extend credit to new borrowers because they are struggling to manage their deteriorating commercial loan portfolio.
Remington Financial Group, Inc. - Why Use Hard Money
In the US alone, some $1.2 trillion in commercial loans is estimated to mature in the next four years. This significant demand causes the imbalance.
A hard money loan is easily recognized by some distinguishing characteristics, most notably its ability to close quickly. Although a hard money loan typically carries a higher loan to value and more costly rates and fees, borrowers continually turn to this unique loan because most times it can move from start to close in 30 short days.
Why would a borrower need to close a loan in 30 days? It turns out there are many reasons that a quick turn around might be necessary. Two examples include:
Taking advantage of a low cost property
A borrower is aware of a piece of available property that is near the site of a soon-to-be-built shopping center. The land owner will sell the property at a lower cost, but only if the deal can close in the next 30 days. By securing a hard money loan, the borrower will pay higher rates and fees, but can close quickly knowing that she will earn a significant return in a year when the shopping center's construction is complete and the land's value has increased.
Avoid foreclosure
An individual's lender is about to foreclose on his property unless he can repay a certain amount within a short time period. The property is worth $10 million and the borrower owes $1 million against it. If the property is foreclosed upon, all of the property's equity will be lost. Although a hard money loan carries high fees and rates it enables the borrower to meet the aggressive repayment timeframe and save the equity in the property.
About Remington Financial Group, Inc. - Hard Money
Since 1993, Remington Financial Group, Inc. has had a successful history of securing hard money capital and financial services to sophisticated real estate owners and developers nationwide.
RFG specializes in hard money loans, a higher-risk loan, which is usually based on the quick-sale value of a property. Hard money loans are often issued for financially distressed properties that carry greater risks that most conventional banks are not willing to absorb. RFG issues hard money loans in cases where there is sufficient collateral and a promising business or financial plan.
Securing financing for transactions starting at $1 million and moving upward, RFG offers an extensive network of private and public lending partners, dramatically improving successful close rates for borrowers in need of a fast closing loan. With a successful track record of closing hard money transactions, Remington delivers expertise and competitive transaction options, even in challenging market conditions.
Hard money loans may be issued for any range of non-traditional properties or non-traditional borrowers - including property owners who may have missed a mortgage payment or real estate developers that are looking for immediate action.
RFG is interested in securing financing for companies that operate in expanding market sectors, such as manufacturing, resource development and service providers. Remington will consider securing financing on a diverse variety of commercial properties, including mixed-use, apartment buildings, assisted care facilities, business investment capital, corporate loans, real estate, special purpose properties (such as car washes), construction loans, hotels, land development, retail, office or industrial properties.
Remington Financial Group, Inc. - Why Use Hard Money
In the US alone, some $1.2 trillion in commercial loans is estimated to mature in the next four years. This significant demand causes the imbalance.
A hard money loan is easily recognized by some distinguishing characteristics, most notably its ability to close quickly. Although a hard money loan typically carries a higher loan to value and more costly rates and fees, borrowers continually turn to this unique loan because most times it can move from start to close in 30 short days.
Why would a borrower need to close a loan in 30 days? It turns out there are many reasons that a quick turn around might be necessary. Two examples include:
Taking advantage of a low cost property
A borrower is aware of a piece of available property that is near the site of a soon-to-be-built shopping center. The land owner will sell the property at a lower cost, but only if the deal can close in the next 30 days. By securing a hard money loan, the borrower will pay higher rates and fees, but can close quickly knowing that she will earn a significant return in a year when the shopping center's construction is complete and the land's value has increased.
Avoid foreclosure
An individual's lender is about to foreclose on his property unless he can repay a certain amount within a short time period. The property is worth $10 million and the borrower owes $1 million against it. If the property is foreclosed upon, all of the property's equity will be lost. Although a hard money loan carries high fees and rates it enables the borrower to meet the aggressive repayment timeframe and save the equity in the property.
Remington Financial Group, Inc. - Loan Process
Submit Business Plan / Executive Summary
Pre-qualification determination process - project is reviewed and evaluated resulting in:
the project being accepted
proposed revisions being issued for the project
the project being declined
Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued
Due-Diligence document checklist of typically requested data is prepared and sent to client
Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor; formal due-diligence commences
Term Sheet/Conditional Commitment and/or Firm Commitment issued
After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, a site visit and market analysis will commence
Remington Financial Group, Inc. - Obtaining Capital in Tough Times
Despite word that the recession is over, the economy is still suffering and businesses are keeping a wary eye on the markets for additional signs of hope. Finding funds for new transactions has required extra creativity, and Remington Financial Group has been able to work our traditional and alternative funding networks to continue helping clients.
Remington has built a reputation for securing financing even when many institutions are saying no. We know how to find financing for borrowers that have had trouble getting it elsewhere. Because we have lending partners that are private, they are not overused and traditionally have financing dollars available for reputable commercial deals when traditional lending sources do not.
The fact that our lending sources have available credit means that we can help brokers broaden their reach and be more successful. With Remington, brokers can close more deals that make money for all parties. We've been getting the toughest transactions financed since 1993, and the value of our services increases in tough times like these.
About Remington Financial Group, Inc.
Remington Financial Group has built its success upon well-established relationships with highly regarded domestic and foreign based private and institutional capital sources. Our extensive lender network combined with market expertise and a highly disciplined due diligence and transaction process means our clients benefit from integrated, seamless financing.
Throughout the due diligence and deal process, Remington works to provide customers with a clear picture of the status of their transaction and any fees. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the financing process, Remington offers a variety of creative financing options with highly competitive rates.
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital so they are structured and tailored to each unique transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex transactions where other sources were unable to execute at all.
Remington can help revitalize existing deals that may be at risk with expert Advisory Services or assist with a comprehensive set of Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.
Remington's expertise and market knowledge can help revitalize existing deals that may be at risk. Our firm's Advisory Services, as well as our comprehensive Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.
Remington Financial Group's expert Advisory Services help clients carefully review and redesign transactions that may have existing financing challenges. RFG's team develops advanced strategies to create new and alternative financing opportunities that can help supplement or replace conventional lending sources.
Remington's borrowers gain the advantage of a comprehensive perspective from which to choose the widest range of financing products available because of the firm's access to the latest and most competitive capital sources on the market.
Remington Financial Group can also make introductions to capital sources that can meet the unique demands of specialty and challenging transactions. Companies that are currently restructuring or emerging from bankruptcy and are in need of recapitalization, or considering expansion through leveraged acquisition, will greatly benefit from our experience and insightful guidance through complex transactions.
Remington Financial Group, Inc. - Financing Programs
Senior Debt/Equity Financing
All Property Types
$1 Million and up
Acquisition, Development, Refinance, Bridge, Principal Buyout, Special or Story Situations
Mezzanine/Bridge Loan Financing
All Property Types
$1 Million and up
Aggregate Leverage up to 85%
Loan Term up to 8 Years
Amortization up to 25 Years
11% - 14% Annual Interest Rate
Non-recourse Subject to Carve-outs
Joint Venture Financing
100% Financing
Construction, Developments & Acquisitions
$1 Million and up
Multifamily
Existing Apartment Properties with 5+ Units
Mobile Home Parks
Limited Mixed Use
$1 Million and up
Nation Wide
6 month, 3, 5, 7, & 10 Year Fixed Terms
15-year Fixed Fully Amortized
Bank Rates
Minimum DSC 1.20
80% LTV for Purchase, Rate & Term Refinance
75% LTV for Cash-out Refinance
Remington Financial Group, Inc. - Loan Process
Submit Business Plan / Executive Summary
Pre-qualification determination process - project is reviewed and evaluated resulting in:
the project being accepted
proposed revisions being issued for the project
the project being declined
Lender / Investor conceptual interest is obtained along with projected terms and the proposal is issued
Due-Diligence document checklist of typically requested data is prepared and sent to client
Analysis of all documents, preparation and packaging of the data for submission to designated lender/investor; formal due-diligence commences
Term Sheet/Conditional Commitment and/or Firm Commitment issued
After Term Sheet/Conditional Commitment and/or Firm Commitment are accepted, a site visit and market analysis will commence
Remington Financial Group, Inc. - What's Currently Going on in the Marketplace
A supply and demand imbalance in the commercial real estate capital markets will provide investors with an unprecedented opportunity to generate equity-like returns for debt investments. This same imbalance presents Remington with an opportunity to assist more distressed developers and owners who seek financing.
The Liquidity Crisis
The supply of commercial real estate debt has shrunk dramatically, especially in the US. According to the Mortgage Bankers Association, CMBS represents some 20% of all commercial loans. Further compounding the liquidity problem is the fact that most commercial banks are not in a position to extend credit to new borrowers because they are struggling to manage their deteriorating commercial loan portfolio.
About Remington Financial Group
Remington Financial Group has built its success upon well-established relationships with highly regarded domestic and foreign based private and institutional capital sources. Our extensive lender network combined with market expertise and a highly disciplined due diligence and transaction process means our clients benefit from integrated, seamless financing.
Throughout the due diligence and deal process, Remington works to provide customers with a clear picture of the status of their transaction and any fees. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the financing process, Remington offers a variety of creative financing options with highly competitive rates for all loan types.
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital so they are structured and tailored to each unique transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex transactions where other sources were unable to execute at all.
Remington can help revitalize existing deals that may be at risk with expert Advisory Services or assist with a comprehensive set of Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.
Remington Financial Group - Expert Advisory Services
Remington's expert Advisory Services help clients carefully evaluate and restructure transactions that may have existing financing challenges. Our team develops advanced strategies to create new and alternative financing opportunities that can help supplement or replace conventional lending sources.
By providing our clients with access to the latest and most competitive capital sources the market has to offer, RFG's borrowers gain the advantage of a comprehensive perspective from which to choose the widest range of financing products available.
Remington also offers quick access to capital sources that can meet the unique demands of specialty and challenging transactions. Companies that are currently restructuring or emerging from bankruptcy and are in need of recapitalization, or considering expansion through leveraged acquisition, will benefit significantly from our experience and insightful guidance through complex transactions.
Remington Financial Group, Inc. - Your Best Access to Commercial Capital
Since 1993 Remington Financial Group has built a successful track record of closing the most challenging debt, mezzanine, and equity capital transactions. Our clients receive the best access to commercial capital. We have strong connections to hundreds of actively-lending funding sources across the capital stack. The experienced team at Remington develops and executes financial structures that turn problematic transactions into closings.
The Challenge
The property owners needed to make facility upgrades to reverse declining sales. The RV Park had adequate cash flow and a solid financial history, but property values were steadily declining, leading to a loss of equity that forced most lenders to back away. Of additional concern was that Michigan had one of the hardest hit economies in the country, encouraging lenders to abandon the market. In addition, the RV industry had taken a significant hit over the past few years as disposable income of many RV enthusiasts had dwindled. Finally, the existing lender was calling the owner's note due to banking difficulties.
Solution by Remington Financial Group
Through creative modifications to our client's business plan and using our extensive network of lenders and investors, Remington acted as a financial advisor to restructure the transaction and put it in the best light. As a result, on behalf of our client we secured a $1.58 million SBA 7(a) loan with all SBA fees eliminated. The loan was priced at prime plus 2.5%. The LTV was 90% and the loan fully amortizes over 25 years. Our client and the lender were both pleased, and the transaction closed with little or no complications.
Remington Financial Group, Inc. - Closes $1,580,000 RV Park in Southeastern Michigan
The Challenge
The property owners needed to make facility upgrades to reverse declining sales. The RV Park had adequate cash flow and a solid financial history, but property values were steadily declining, leading to a loss of equity that forced most lenders to back away. Of additional concern was that Michigan had one of the hardest hit economies in the country, encouraging lenders to abandon the market. In addition, the RV industry had taken a significant hit over the past few years as disposable income of many RV enthusiasts had dwindled. Finally, the existing lender was calling the owner's note due to banking difficulties.
Solution by Remington Financial Group
Through creative modifications to our client's business plan and using our extensive network of lenders and investors, Remington acted as a financial advisor to restructure the transaction and put it in the best light. As a result, on behalf of our client we secured a $1.58 million SBA 7(a) loan with all SBA fees eliminated. The loan was priced at prime plus 2.5%. The LTV was 90% and the loan fully amortizes over 25 years. Our client and the lender were both pleased, and the transaction closed with little or no complications.
Remington Financial Group, Inc. - Your Best Access to Commercial Capital
Since 1993 Remington Financial Group has built a successful track record of closing the most challenging debt, mezzanine, and equity capital transactions. Our clients receive the best access to commercial capital. We have strong connections to hundreds of actively-lending funding sources across the capital stack. The experienced team at Remington develops and executes financial structures that turn problematic transactions into closings.
To See More Information about Remington Financial Group, Inc. Please Visit www.remingtonfg.com
Remington Financial Group has built its success upon well-established relationships with highly regarded domestic and foreign based private and institutional capital sources. Our extensive lender network combined with market expertise and a highly disciplined due diligence and transaction process means our clients benefit from integrated, seamless financing.
Throughout the due diligence and deal process, Remington works to provide customers with a clear picture of the status of their transaction and any fees. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the financing process, Remington offers a variety of creative financing options with highly competitive rates for:
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital so they are structured and tailored to each unique transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex transactions where other sources were unable to execute at all.
Remington can help revitalize existing deals that may be at risk with expert Advisory Services or assist with a comprehensive set of Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.
Remington Financial Group, Inc. - Recent Closings
$58 MM - 2200 Key Hotel Portfolio, Debt / Mezzanine Financing - FL
$1 MM - Hotel Suites, Bridge Financing - NV
$48 MM - 196 Key Hotel / Office, Acquisition / Renovation Financing, 80% LTC - MD
$12.5 MM - Hotel, Permanent Financing - GA
$23.5 MM - 800 Key Hospitality Portfolio, Permanent Financing - PA
$62.6 MM - Hotel, Acquisition / Redevelopment Financing - IL
$17.6 MM - Hotel, Construction Financing - NJ
$7 MM - 2 Full-service Hotels, Acquisition Financing - GA
$13 MM - 130 Key, Construction Financing - NY
$4.5 MM - Hotel, Bankruptcy Reorganization Financing - MO
$12 MM - Hotel, Permanent Financing - VT
Remington Financial Group, Inc. - Case Study - $282.3 Million for Eclectic Acquisitions
An institutional equity investor has obtained an aggregate of nearly $282.3 million to acquire two separate and diverse portfolios. One consists of 14 office and warehouse buildings. The other contains four independent living properties in two states. In both cases, locally based Remington Financial Group Inc. arranged debt and bridge financing.
With nearly $142.3 million in funding from a global financial services firm, the investor and an operating partner have acquired a 2.7-million-sf office and warehouse portfolio for an aggregate cost of $150 million. The assets are spread across 10 Midwestern and Southeastern states and are being acquired from three separate sellers. The sellers of two of the buildings are the properties' respective occupants. One real estate investment firm is the seller of the other 12 properties.
"Each building is fully occupied by a different single tenant, and all are sale-leaseback agreements," RFG says. "Because all of the tenants are private companies with no public credit ratings, arranging the financing required extraordinary due diligence to make both the buyer and the lender comfortable with the transaction," RFG says. Furthermore, one of the properties, a 1.2-million-sf flex property in the Midwest, represents half of the portfolio, "potentially presenting a big risk."
RFG structured a $108-million non-recourse, permanent 10-year mortgage at a fixed rate of just more than 6 percent, which represented 75 percent of the acquisition cost. It was collateralized by the properties, but not crossed. The same lender provided a bridge loan of nearly $34.3 million to increase the loan-to-cost ratio to 97 percent. This has a five-year term beginning at Libor plus 200 basis points for the first two years, and Libor plus 100 for the remaining term.
In a separate transaction, RFG arranged $140 million in debt and bridge equity financing for the same buyer, in a different operating partnership, to acquire three independent living communities in the Dallas area and a fourth in Kansas City, MO. All are from a single unidentified seller, who developed and operated the facilities. The properties have an aggregate of approximately 1,000 units, are about four to five years old, and have an average occupancy in the mid-80 percent.
"While they are class A assets, they aren't being operated to full potential," RFG says. "The buyer acquired the portfolio at a cap rate below 4 percent, and the business plan is to raise net operating income to an 8.5 percent cap rate over the next two to three years by improving operations and implementing high-margin services, including better quality meals." The borrower has a track record of implementing a similar plan, according to RFG, "which provided the lender with the required level of comfort."
The lender is one of the world's leading financial management and advisory companies. The senior financing is for a three-year term at a floating rate that RFG says is Libor plus 200 basis points. It is joined by a two-year bridge loan from the same lender at Libor plus 450 points. The full funding represents 97 percent of the portfolio's purchase price.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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