Alternative capital is the way to go.
Scottsdale, AZ (PRWEB) February 09, 2011
Remington Capital has what it takes to help finance limited use commercial properties that retrenching banks can’t or won’t fund in today’s market. “Alternative capital is the way to go,” according to Remington Capital Chairman Andy Bogdanoff.
Remington Capital is a leading financial services company, with access to some 700 active capital sources, nearly 500 of which are alternative lenders and investors.
Special purpose properties represent a huge category of commercial building types, Bogdanoff said. “These properties are always difficult to finance because conventional lenders do not easily understand their limited use.”
In today’s market, special purpose properties are suffering a “double whammy effect” when it comes to securing needed financing, Bogdanoff said. “On the one hand, most banks - stung by three years of defaults and delinquencies - are unable or unwilling to extend new debt. On the other, these mostly small businesses have watched their creditworthiness erode due to recent operating losses or reduced cash flow, making prospects for conventional financing even less promising. In my opinion,” Bogdanoff said, “alternative financing is a very attractive financing option for all types of special purpose properties.”
Bogdanoff said that all the private capital sources in Remington’s global network are actively seeking new opportunities to deploy billions of dollars in viable commercial projects. “We know the preferences of these lenders and investors. We know which ones match up with which types of commercial property. And we know which capital sources are looking to invest in limited use properties, such as restaurants, car washes, bowling alleys, gas stations, and most other limited use properties.”
Remington’s financing sources represent billions of dollars in capital ready to step in to finance, refinance or recapitalize all types of commercial property. Since 1993, Remington has arranged more than $5 billion in financing across the capital stack.
For more information:
Contact: Neil Wintle
(877) 597-4458 – toll free