Recent $2.5MM mezzanine loan closing illustrates flexibility and speed.

An Ohio based developer engaged RFG to secure mezzanine financing to compliment its senior financing, which did not provide enough leverage to complete needed improvements to a medical office building. The developer recently purchased the building located in Dayton Ohio with substantial below market occupancy caused by prior ownership's mismanagement. A quick closing required the developer to utilize a short term low leverage acquisition bridge loan. The developer required additional capital to make improvements to the property to attract tenants. The demands of the transaction required an entrepreneurial mezzanine lender that could quickly understand the market and share the developer's conviction with the overall opportunity. 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.

RFG worked with the developer and created a finely tuned sense of the market and felt comfortable with the property's projected lease-up. As a result, it was able to articulate the deal and its risks efficiently to its investor and delivered a $1.5MM mezzanine loan in approximately 10 days.

Shortly after closing, the developer secured a lease and required additional capital to continue with building improvements. RFG delivered another $1MM about four weeks after the first closing by simply adding to the principal balance of the original mezzanine loan. Based on the developer's satisfaction with Remington's execution of the mezzanine loan assignment, it awarded RFG the senior mortgage refinancing.

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 with terms that are often superior to conventional approaches.

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:

Conventional financing | Hard-money loans | Bridge loans | Construction loans

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.