Lake Wylie, SC (PRWEB) July 17, 2014
Fairway America, LLC (“Fairway”), a Portland, OR based real estate asset based advisory and investment firm, played the lead role in consulting, advising and guiding the structure and formation of the Carolina Capital Reserve Fund, LLC (the “Fund”) based in the Charlotte NC area. The Fund will be managed by two longtime mortgage professionals, Wendy Sweet and Bill Fairman, who together own and operate the private real estate lending firm, Carolina Hard Money, LLC (“CHM”).
The sister and brother team came together in 2012 to form CHM after both having worked in the mortgage business for years, but never together, to provide private money construction, rehab and bridge loans for residential and commercial real estate borrowers. “In the aftermath of the credit crunch, banks still don’t have much appetite for these types of loans,” said Sweet. “We felt the time was right to take our private lending business to the next level and start our own investment fund. The timing for us is perfect to fill a lending void in an area that we love and in which we have lived and worked for many years.”
CHM engaged Fairway to help them make sure they structured their fund in a way that met the needs of their investors. “Fairway helped us clearly understand the economics of the fund from both our perspective as manager and also how investors will look at it,” said Sweet. “Their experience, guidance and support in the process was invaluable and we are extremely pleased with the result we are bringing to our marketplace.”
CHM has also engaged Fairway to handle the ongoing back-end administration for the Fund’s activities. “We really want to focus on origination and asset management, which is what we do best,” said Sweet. “Engaging Fairway allows us to do that and at the same time gives us confidence that we have the expertise needed to administer and track all the Fund’s investments effectively, and we can pass that confidence through to our investors.”
As longtime residents of the Carolinas, Sweet and Fairman believe that private lending is a local business. “The most successful private lenders focus on being the best they can in their own backyard,” said Sweet. “Our focus is to be the best private lender in our own backyard as we believe this will add value to our borrowers, beyond being just a source of money, and to our investors as well.”
About Fairway America
Fairway America, LLC is a longtime real estate lender, fund manager and boutique real estate finance advisory firm providing strategic business planning services nationwide to select private money lenders and real estate operators around the structure, architecture, and administration of proprietary 506 Regulation D pooled investment funds. Fairway America Management Group II is the manager of Fairway America Fund VII, LLC, which invests in real estate based 506 Regulation D funds nationwide.
About Carolina Capital Reserve Fund LLC
Wendy Sweet and Bill Fairman are longtime residents of the Charlotte area and seasoned real estate finance veterans. Carolina Hard Money provides construction, rehab, and bridge loans to builders, developers, and investors for both residential and commercial real estate, focusing primarily in North and South Carolina. Carolina Capital Reserve Fund LLC is a 506 Regulation D mortgage pool fund which accepts accredited investors only.