Ft. Lauderdale, FL (PRWEB) September 05, 2013
AmericaVest CRE Mortgage Funding Trust, Inc. [AmericaVest] a newly formed Maryland corporation that intends to qualify as a Real Estate Investment Trust (“REIT”) for U.S. federal income tax purposes, announced today that it facilitated and closed a $1.4 million senior bridge loan through its affiliate AmericaVest Lending, LLC.
AmericaVest originates, acquires and invests in senior whole mortgage loans secured by small to midsize commercial real estate properties in the United States. The firm primarily focuses on “bridge” commercial loans, mezzanine financing and preferred equity.
AmericaVest Lending, LLC facilitated and closed a $1.4 million senior bridge loan for a commercial real estate property featuring 16-unit two-bedroom suites courtyard villas adjacent to Fort Lauderdale’s beachfront.
Robert Damigella, AmericaVest Co-CEO, explained that AmericaVest Lending, LLC enabled the borrower to secure a one-year, fixed rate bridge loan financing. The loan will fund the acquisition of the real estate property, which will be used for long-term and seasonal rental purposes.
“Arranging financing for the borrower was an opportunity for us to help an entrepreneurial buyer secure an asset with an attractive valuation,” stated Damigella. “Undoubtedly, this transaction is a tangible testimonial to our expertise and knowledge in providing commercial real estate borrowers with alternative venues of financing to traditional banking sources.”
According to Nelson Garcia, AmericaVest Co-CEO, “The securing of this bridge loan facility underscores AmericaVest’s in-depth understanding of the commercial real estate space and our ability to facilitate alternative financing. This deal highlights our commitment to supporting commercial real estate borrowers through this difficult market cycle.”
About AmericaVest CRE Mortgage Funding Trust
AmericaVest CRE Mortgage Funding Trust, Inc. is a Maryland corporation that will qualify as a Real Estate Investment Trust (“REIT”) for U.S. federal tax income purposes. Our primary business is to originate, acquire and hold for investment senior mortgage loans secured by commercial and multi-family real estate properties, which in the United States are considered to be “Alternative Mortgage” assets. The majority of our investments are commercial loan funding (“bridge loans”). The AmericaVest group of companies (“AmericaVest Group”) was initially established in 2006 to take advantage of opportunities within the U.S. commercial and residential real estate, as well as alternative finance sectors. Our founders and management possess more than 75 years of collective experience in the finance, mortgage and real estate industry. More information can be found at http://www.americavest.net.
Forward Looking Statements
This press release contains forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of forward-looking statements include projected financial information, statements of our plans and objectives for future operations and statements concerning proposed operating strategies. In some cases, you can identify forward-looking statements by the use of terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” and other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievements. Actual events or results may differ materially.