Remington Financial Group, Inc. - Corporate Financing Options
Remington Financial Group (RFG), a veteran investment banking firm, secures financing of $1 million and up for commercial real estate projects. RFG has a track record of delivering money for slightly unconventional developments or properties. The company can look past a property's immediate problems and help owners realize the full profit potential on their investments.
RFG is known for securing financing on extremely complex deals with incredibly fast turnaround times. The company was founded in 1993, and over the past 15 years, has grown because of its quick understanding of a client's financing objectives and its ability to move quickly with its lenders. In 2007, RFG closed more than $1 billion in client transactions, and the company in on track to exceed that figure for 2008.
Remington Financial Group is an entrepreneurial organization, and, although it is open to financing higher-risk projects, it usually requires developers or builders to have at least three years' experience. RFG also prefers to invest in projects located in strong markets, where sell-out or stabilization may occur within two years.
RFG's other financial solutions include second mortgages, mezzanine financing, bridge loans and long-term B-paper loans. RFG also finances many joint venture (JV) projects. Typically, RFG provides JV financing for condo developments and hospitality industry properties. The company can provide up to 100 percent financing on joint ventures on all types of properties. The loan to sell out value ratio ideally should not exceed 80 percent.
Remington Financial Group, Inc. - Loan Process
1. Submit Business Plan / Executive Summary
2. 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
3. Lender / Investor conceptual interest is obtained along with projected terms
and the propsal is issued
4. Due-Diligence document checklist of typically requested data is prepared and
sent to client
5. Analysis of all documents, preparation and packaging of the data for
submission to designated lender/investor; formal due-diligence commences
6. Term Sheet/Conditional Commitment and/or Firm Commitment issued
7. After Term Sheet/Conditional Commitment and/or Firm Commitment are
accepted, a site visit and market analysis will commence
8. Closing / Capitalization / Funding
Remington Financial Group, Inc. - Recent Retail Closings
$22 MM - Retail Center, Acquisition Financing - LA
$6 MM- Retail Center, Acquisition Financing
$11.5 MM - Retail Center, Permanent Refinance - FL
$9 MM - Retail Center, Bridge Financing - MD
$5.6 MM - Retail Center, Permanent Financing - PA
$4.7 MM - Retail/Office Building, Refinance - PA
$5.2 MM- Retail Center, Acquisition Financing - IN
$1.75 MM- Retail Center, Acquisition Financing - TX
$5.6 MM - Retail Center, Refinance - PA
$2.2 MM - Retail Center, 1st Mortgage Permanent Financing, Acquisition Financing
$4 MM - Fully Occupied Retail Center, 1st Mortgage Refinance, Permanent Mortgage
Learn more about <a href="http://www.remingtonfg.com">commercial hard money</a> at Remington Financial Group.