All of which means that thousands of commercial property owners may be unable to obtain needed financing through traditional banking sources
Scottsdale (PRWEB) October 5, 2010
Remington Capital is gearing up for an expected “thawing” in the nation’s financing markets by dramatically increasing its global network of active lenders and investors, particularly alternative sources of commercial capital.
“With the nation’s credit crisis worsened by the on-going closure of hundreds of ‘problem banks,’ the rapid expansion of alternative sources of capital by Remington is good news for owners of commercial real estate and corporate projects in need of financing,” according to Andy Bogdanoff, chairman of the international capital services company.
Since 2007, nearly 300 banks have been closed by government regulators, with another 829 banks on the regulators’ “problem” watch list. “All of which means that thousands of commercial property owners may be unable to obtain needed financing through traditional banking sources,” Bogdanoff said.
Remington’s capital network of active lenders and investors is nearing 700, with additions doubling annually. About 70% are alternative capital sources, including private investors, pension funds, life insurance companies, mortgage REITs, endowments and others.
“This available pool of alternative capital represents a unique opportunity for real estate and corporate communities to step outside their normal comfort zone to explore alternative avenues of commercial financing in these challenging times,” Bogdanoff said.
“Remington’s alternative financing sources represent billions of dollars in private capital ready to step in to finance, refinance or recapitalize all types of commercial property having intrinsic value.” Since 1993, Remington Capital has arranged more than $5 billion in financing across the capital stack for all types of commercial property.
For more information:
Contact: Neil Wintle
(877) 597-4458 – toll free