NEW YORK, June 26, 2014 /PRNewswire/ -- FirstKey Lending, LLC, a leading provider of financing for investors in one- to four-family rental properties, has introduced FirstKey Commercial, its new commercial real estate lending program. Building on the success of its one- to four-family rental finance business, with the launch of FirstKey Commercial, FirstKey Lending, LLC will offer customized, bridge loans from $1 million to $25 million to clients looking to purchase, refinance or reposition commercial properties, including office, retail, multi-family, industrial, self-storage and flagged hospitality assets.
Led by Chief Executive Officer Randy Reiff, FirstKey Lending, LLC's senior management team has extensive experience in commercial real estate lending and investing. Reiff was previously global head of commercial real estate finance and CMBS at J.P. Morgan and global co-head of commercial real estate finance and CMBS at Bear Stearns. Most recently he led the global commercial real estate and CMBS business within Macquarie's Fixed Income Currencies and Commodities division.
"Given the breadth and depth of our team's commercial real estate expertise and experience and the current need for debt capital in the smaller balance commercial loan space, FirstKey Commercial is the next logical step in our continued efforts to expand our product offering and serve the needs of our entrepreneurial client base," said Reiff. "Our extensive experience and flexibility enable us to quickly tackle complex problems and find creative financing solutions, in an industry where speed, certainty and service are critical. We take great pride in offering commercial real estate investors highly competitive terms, flexibility, outstanding client service and certainty of execution."
Backed by Cerberus Capital Management, L.P., one of the world's leading private investment firms, FirstKey is a national real estate finance company providing loan products tailored to commercial borrowers, and is the premier one- to four-family rental financing source.
Highlights of FirstKey Commercial's bridge lending program include:
- Loans from $1 million - $25 million
- Loans for transitional properties
- Competitive LIBOR based pricing
- LTV up to 75%
- Loan terms up to 3-years
- Interest only loans
- No minimum DSCR requirement
- Office, retail, multi-family/condo, industrial, self-storage and flagged hospitality assets
- Nationwide coverage
About FirstKey Lending, LLC
FirstKey offers a full suite of specialty real estate financing products and loan servicing solutions to customers across the United States. Backed by Cerberus Capital Management, L.P., one of the world's leading private investment firms, FirstKey provides loans of $100,000 to $500 million across a variety of products tailored to commercial borrowers, and is the premier one- to four-family rental financing source. Through a team of professionals with decades of experience at leading financial institutions, FirstKey has the strength and stability to provide a wide range of real estate financing products for all sectors of the industry. For more information about FirstKey, please visit http://www.firstkeylending.com/.
Commercial Real Estate program, products and services are offered by FirstKey Lending, LLC an equal housing lender. Commercial loans in California are made or arranged by FirstKey Lending CA, LLC pursuant to its California Finance Lender Law License. FirstKey Lending, LLC. 4 International Drive, Rye Brook, NY 10573. Tel: (888) 707-5040. NMLS Unique ID No. 1063414 (www.nmlsconsumeraccess.org).
Arizona Mortgage Banker License No. 0925342. Commercial Loan products may not be available in all states and are limited to U.S. citizens and permanent resident aliens only. Other restrictions may apply. FirstKey Lending, LLC underwriting guidelines will apply. Loans are subject to credit application and approval. Rates, terms and products subject to change without notice. This is not an offer or commitment to lend. FirstKey Lending, LLC only originates loans to entities.
© 2014 FirstKey Lending, LLC. All rights reserved.
- commercial real estate