iBorrow Provides $6 Million Loan to Pasadena Skilled Nursing Facility

iBorrow, a private direct lender for commercial and multi-family real estate, has provided a $6 million loan for an owner-operated, two-story skilled nursing facility situated in one of the oldest parts of Los Angeles, Pasadena, at 1450 N Fair Oaks Ave. Originally constructed in 1965 and since remodeled, the nursing facility sits on approximately one acre of land and features 42 units and 96 beds, and is currently 97% occupied. "The property is successful, with occupancy levels consistently above 95% since the borrower purchased it more than 20 years ago," said iBorrow CEO Brian Good. "The challenge for the borrower...

iBorrow Finances Olympia Office Building in Washington with $8.9 Million Loan

LOS ANGELES -- iBorrow, a private direct lender for commercial and multi-family real estate, has provided an $8.9 million loan for a two-story, 88,450 square-foot office building at 3000 Pacific Avenue South in Olympia, Washington. Built in 1987 and renovated in 2001, the property sits on more than four acres of land and is currently 74% occupied. The borrower, OB Investors, which has owned the property for over 10 years, has initiated a plan to re-lease the vacant space and take advantage of the solid market. "The borrower needed a new loan to enable it to continue its leasing efforts...

iBorrow Provides $17 Million Loan for Flex R&D and Office in Gardena

LOS ANGELES -- iBorrow, a private direct lender for commercial and multi-family real estate, has provided a $17 million loan (originated in-house by Will McCabe), for the borrower's two-story, 125,849-square-foot flex/R&D building and an adjacent two-story 20,916-square-foot office building located in Gardena, California. "iBorrow's structured loan will enable the borrower to support its business objectives to develop and soon initiate production on a line of intelligent, next generation technology. We like this loan because of the significant land value and the limited supply of industrial and R&D inventory in the Gardena market," said iBorrow CEO, Brian Good. "The property is...

iBorrow Provides $10.25 Million Loan for Office Building in Arlington

LOS ANGELES -- iBorrow, a nationwide private direct lender for commercial real estate, has provided a $10.25 million loan for a single-story, 244,590-square-foot industrial building that includes 16,108-square-feet of office space in Arlington, Washington. The property is currently 84% leased. The borrower group, headed by long-time industrial real estate investors, will use the proceeds to fund the value add component of the property. The property has been the beneficiary of the tight leasing market and continued growth in the area. "The borrower is positioning the property to meet the strong demand in the local market for high quality industrial property....

iBorrow Announces Opening of Atlanta Office

LOS ANGELES --- iBorrow, a direct lender of private money loans for commercial real estate, is pleased to announce the opening of its Atlanta office and the addition of Jennifer Wimmer, MBA as Vice President of Originations. Jennifer will lead the firm's Atlanta office. "Our prior lending experience in Georgia has proven that there are significant opportunities throughout the state and regionally, and having a greater presence in Atlanta will help us provide better service to our borrowers," says Brian Good, iBorrow CEO. "Jennifer's expertise in real estate financing and familiarity with the Atlanta market makes her the ideal candidate...

iBorrow Provides $5.6 Million Loan for San Francisco Flex Building

iBorrow, a nationwide private direct lender for commercial real estate, has provided a $5.6 million loan to refinance a four-story, 9,580-square-foot flex building located at 131 Franklin Street in San Francisco, California. The property, which is situated on a 2,395 square foot lot in the trendy Hayes Valley neighborhood, is in close proximity to numerous high tech firms, City Hall, performing arts venues, freeways and public transportation. The property is located less than two blocks from "The Hub," now called SoMa West, which features multiple high-rise, newly constructed multifamily buildings. "Our structured loan will enable the borrower to pay off...

iBorrow Provides $6 Million Loan for Co-Working Office Building in Houston

iBorrow, a nationwide private direct lender for commercial real estate, has provided a $6 million loan for a two-story, 41,989-square-foot office building in Houston, Texas, located in Midtown Arts District area at 1512 Center Street North. Once renovations are complete, the property will consist of 50 open co-working spaces, 20 dedicated desks, 134 private offices and 40 parking spaces. Adjacent to the Washington Avenue Corridor, the property is in close proximity to a vibrant restaurant, retail and creative office corridor. "With the growing trend toward open, co-working office spaces in the workplace, especially among smaller companies that prefer to offer...

iBorrow Provides $6.1 Million Loan for Office Building in Spokane

LOS ANGELES -- iBorrow, a nationwide private direct lender for commercial real estate, has provided a $6.1 million loan for a three-story, 76,814-square-foot office building in Spokane, Washington. The property, located at 901 North Monroe Street, is one of the only available properties that meet the location and space requirements for local government tenants. Spokane office demand is primarily driven by city, county and state government needs, including strong on-going demand from local area FIRE and medical office tenants. "The borrower is positioning the building to meet the demand in the local market for office space that is suitable for...

iBorrow Provides $6.4 Million Loan for Co-Working Office Building in Denver

DENVER -- iBorrow, a nationwide private direct lender for commercial real estate, has provided a $6.4 million loan for a one-story, 16,646-square-foot industrial warehouse and parking lot located at 3950 Wynkoop Street, with plans to build a two-story structure above the current parking lot and a second story above the current warehouse. Once renovations are complete, iBorrow estimates the planned lease up will occur quickly. "Our collateralized loan has been set up to aid the Borrower in construction and further the renovations on the property," said iBorrow CEO, Brian Good. "A key factor contributing to the current value and importance of...

Real Estate Finance & Investment Commercial Real Estate Awards: iBorrow Receives Award for Fund of the Year for Second Consecutive Year

Los Angeles, CA --- For the second consecutive year, iBorrow was awarded Fund of the Year - Niche Strategy by Real Estate Finance & Investment for its "2018 Commercial Real Estate 20 Awards." The annual award recognizes outstanding achievements among commercial real estate private equity funds, investment management companies, and real estate investment trusts and their advisors. Following the 2008 U.S. financial crisis, regulations and changes to business practices among traditional lending institutions have greatly impacted lending, both from the lender and borrower's perspective. Banks can no longer lend against real estate collateral as freely, and they can no longer...

Bisnow Highlights iBorrow’s $10 Million Refinance Loan for Iconic Pacific Stock Exchange Building in Downtown LA

As published by Bisnow’s Los Angeles Deal Sheet, iBorrow was featured for its $10 million refinance loan for the upgrade of the Pacific Stock Exchange Building located in downtown Los Angeles. The loan will be used to create creative office spaces in the upper floors and to make other improvements to the building. Constructed in 1929, the iconic building includes 14 floors above ground (which includes three floors with outdoor terraces), as well as a basement level. Read Bisnow article.

iBorrow Announces Opening of Seattle and Dallas Offices

Los Angeles, CA --- iBorrow, a direct lender of private money loans for commercial real estate, is pleased to announce the opening of its Seattle and Dallas offices and the hiring of Ryan Kurth and Matt Hood, respectively as Vice Presidents of Originations, to oversee each of these offices. According to Brian Good, iBorrow CEO, "We have made numerous loans in Seattle and throughout the Northwest as well as in the Texas/Oklahoma regions of the United States. We believe there is a significant market opportunity in these markets and that having a constant market presence is the logical next step...

iBorrow Re-Launches Website

LOS ANGELES --- iBorrow, a nationwide commercial real estate private direct lender, is pleased to announce the re-launch of its website (www.iborrow.com). The website features an updated look and user interface, for borrowers and investors. The company believes that its new website better positions iBorrow as the premiere bridge loan platform for private commercial real estate loans across the United States. "We are excited to launch our redesigned website, which reflects iBorrow's growth and development as a full service, nationwide commercial real estate private lending platform," said iBorrow Co-Founder, Harlan Peltz. "We have established a strong foothold in the emerging...

iBorrow Provides $3.5 Million Loan For Multi-Family Residential Property in Winston-Salem, NC

LOS ANGELES — iBorrow, a private direct lender for commercial real estate, has provided a $3.5 million loan for a multi-family residential development on approximately 40 acres of land, located at 301 Walkertown Ave in Winston-Salem, North Carolina (the “Property”). The purpose of the loan is to refinance an existing $2.95 million loan, as well as to fund certain upgrades. The Property encompasses a total of 347 apartment units, 257 of which are currently operational, with another 90 offline and in need of refurbishing. Once fully renovated, the borrower expects the Property’s net operating income to grow significantly. Winston-Salem is...

iBorrow Provides $10 Million Loan for Iconic Pacific Stock Exchange Building in Downtown Los Angeles

LOS ANGELES --- iBorrow, a private direct lender for commercial real estate, has provided a $10 million refinance loan on the historic Pacific Stock Exchange Building, located at 618 Spring Street in Downtown Los Angeles. The borrower will use the loan proceeds to recapitalize the partnership and to improve the upper floors of the property into creative office space. Constructed in 1929, the iconic building includes 14 floors above ground (which includes three floors with outdoor terraces) as well as a basement level. The borrower plans to spend approximately $2 million on upgrades, developing the office floors into "plain vanilla...

iBorrow Provides $2.1 Million Loan For Student Housing in Seattle, WA

LOS ANGELES --- iBorrow, a private direct lender for commercial real estate, has provided a $2.1 million loan for the purchase of approximately 35,340 square feet of building space, allowing for the development of 60 student housing units and 3,000 square feet of retail space (the "Property"). Located in Seattle, Washington at 5253-5255 University Way NE, the Property is located in the densely populated University District, which is adjacent to the University of Washington. "This loan posed a challenge due to the fact that the property will eventually be re-developed, so the pro-forma financial statement was unproven," said iBorrow CEO...

iBorrow Provides $3.5 Million Loan For Multi-Family Residential Property in Winston-Salem, NC

LOS ANGELES --- iBorrow, a private direct lender for commercial real estate, has provided a $3.5 million loan for a multi-family residential development on approximately 40 acres of land, located at 301 Walkertown Ave in Winston-Salem, North Carolina (the "Property"). The purpose of the loan is to refinance an existing $2.95 million loan, as well as to fund certain upgrades. The Property encompasses a total of 347 apartment units, 257 of which are currently operational, with another 90 offline and in need of refurbishing. Once fully renovated, the borrower expects the Property's net operating income to grow significantly. Winston-Salem is...

iBorrow Provides $5.7 Million Loan for Purchase of Industrial Building in Lawrence, MA

LOS ANGELES - iBorrow, a private direct lender for commercial real estate, has provided a $5.7 million loan for the purchase of a 559,868-square-foot high-end manufacturing facility that was formerly the Polartec plant. The property, which is housed on 14.49 acres of land, is located at 46 Stafford Street in Lawrence, Massachusetts. As textile manufacturing has largely moved overseas, the borrower is re-imagining the use of the space and undertaking an aggressive marketing campaign with a nationwide leasing firm targeting tenants in the areas of storage and moving, data storage, office space and light industrial work. "The challenge in putting...

$3.1 Million Loan to Finance Apartment Renovation in Santa Clarita

iBorrow has provided an acquisition loan on an apartment complex located in Santa Clarita, California. The 26,474-square-foot lot includes a total of sixteen two-bedroom and one-bathroom units. The property includes four 2-car parking garages and 24 additional surface parking spaces. The property is not subject to rent control laws, lending itself to the type of rehab contemplated by the borrower. Based on the area, the lease rates for the property are currently below market value. Downtown Newhall, a community of Santa Clarita, is within walking distance of the property and located within the 20-block “Revitalization Zone” which will be served...

iBorrow Provides $9.3 Million Loan for Renovation of High-End Assisted Living Facility in Long Beach

LOS ANGELES — iBorrow, a private commercial real estate lender, has provided a $9.3 million loan to complete the renovation of a 64,090 square foot property, which will operate as a high-end assisted living facility when completed. Originally built in 1929, the property will encompass 56 rooms, 82 beds, a rooftop garden, retail amenities and ocean views. The property is located just half a mile from St. Mary’s Medical Center – Dignity Health, a 415-bed hospital. Brian Good, CEO of iBorrow, said, “We have provided several loans against senior living facilities - for the deals we do, we look for...

$3.7 Million Loan to Finance Echo Park Restaurant and Parking Lot

iBorrow has provided a $3.7 million loan to refinance a mixed use property located in Echo Park, California. The property collateral includes storefront with a restaurant and bar tenant, multi-family house and an entitled parking lot, master leased to one tenant. The entitled land fronts Sunset Boulevard, across the street from the restaurant, and adjacent to the multi-family unit. Borrower purchased the property several years ago and made major upgrades to it as part of a newly signed 10-year lease to The Lost Knight, which is an established pub/restaurant operator. The borrower is a local real estate investor who has...

iBorrow Provides $11 Million Loan To Shilo Inn Suites Ocean Front Hotel in Seaside, OR

LOS ANGELES — iBorrow, a private direct lender for commercial real estate, has provided an $11 million loan to Shilo Inn Suites Oceanfront Hotel, a 95,235-square-foot, 113 room full-service hotel located on the beach in Seaside, Oregon, approximately 80 miles from Portland. The hotel includes a 24-hour indoor pool, spa, sauna, steam room, fitness center, restaurant and meeting space. The hotel is undergoing a property improvement plan (“PIP”), which includes a complete remodel of the hotel’s elevators, outdoor and patio areas. “We are confident that with the borrower’s experience and proven history of success operating hotels, he will use the...

iBorrow Provides $2.1 Million Loan To Multi-Tenant Retail Building in San Antonio

LOS ANGELES — iBorrow, a private commercial real estate lender, has provided a $2.1 million bridge loan to the Bandera Collection, a 7,700 square foot multi-tenant retail building in San Antonio, Texas. The building is shadow-anchored by Home Depot, and is ideally located to draw traffic from additional anchored shopping centers in the other quadrants of the intersection, including Lowe’s, Target, and H-E-B Plus. The address is 9123 North Loop 1604 W. “Not only was this a complex loan, but we also had a short timeframe to close the deal before the borrower’s CMBS loan matured,” said iBorrow CEO Brian...

iBorrow Provides $12 Million Loan to Renovate Oklahoma City Wyndham Hotel

LOS ANGELES — iBorrow, a private commercial real estate lender, has provided a $12 million refinance loan for a 102,850 square-foot, full service hotel in Oklahoma City. The property is currently operating as a Crowne Plaza hotel, but the borrower has been approved to change its affiliation and operate as a Wyndham hotel. The borrower purchased the hotel in 2016 and has invested $8.1 million of equity into the property to date, with plans to invest an additional $2.5 million over the next twelve months to complete the extensive renovations. “While the property is not yet stabilized, we like our...

iBorrow Provides $9.7 Million in Loans for Development of Two Hotels in Seattle’s Popular Pioneer Neighborhood

--The rapid growth of Seattle’s tech sector, fueled by giants like Microsoft and Amazon, has contributed to what is consistently noted as one of the best real estate markets in the country-- LOS ANGELES — iBorrow, a private commercial real estate lender, has provided a $5.1 million loan to convert a 25,430 square foot historic Seattle building into a luxury boutique hotel, as well as a $4.6 million loan to develop a 24,000 square foot office building space into a luxury boutique hotel. Both properties are located in the Pioneer Neighborhood of downtown Seattle, located just minutes away from Century...

iBorrow Provides $12 Million Loan to Refinance Los Angeles Assisted Care Facility

Los Angeles, CA — iBorrow has provided a $12 million loan to refinance a property that will house a full-service independent living, assisted living, and memory care facility, as well as an underground parking structure. The 154,168 square foot property is expected to have state-of-the-art construction and a lasting design. The facility will be located near the intersection of La Cienega and Olympic Boulevard in West Los Angeles, adjacent to Beverly Hills, where there is a shortage of senior and assisted living housing, making the property’s appeal to the market strong. “This property is a valuable asset as it addresses...

Eagle Group Finance Provides $17 Million Loan for Refinance of Beverly Hills Medical Building

LOS ANGELES, CA—Eagle Group Finance announced that it has provided a $17 million refinance loan to a private ownership group for a medical office building located at 8900 Wilshire Boulevard in the heart of Beverly Hills. The primary purpose of the loan is to refinance an existing loan that is maturing. The remainder of the two-year, non-recourse loan will be used for tenant improvements and building upgrades. “The property is located in one of the most sought-after business corridors in Beverly Hills,” said Eagle Group Finance President Brian Good. “There is a limited amount of rentable medical space in Beverly...

The Rise of Shadow Banking

LOS ANGELES—Shadow banking has come under public scrutiny because the sector isn’t held to the same regulatory standards as mainstream banking, and many believe that makes the sector riskier. However, Harlan Peltz, the co-executive chairman of iBorrow, says that the criticism is often unwarranted because the so-called shadow banking sector is a benefit to the lending community. To find out more about shadow banking, why a borrower would turn this market and where it is headed, we sat down with Peltz for an exclusive interview. GlobeSt.com: What exactly is shadow banking, and why has it emerged? Harlan Peltz: I think...

iBorrow Provides $3.875 Million Loan to Refinance Shilo Tacoma Hotel

As published by Business Examiner, iBorrow has provided a $3.875 million loan to refinance Shilo Tacoma, a 76,230 square foot full-service hotel located in Tacoma, Washington. The hotel includes 132 rooms, flexible meeting space and a breakfast area. The proceeds of the loan will refinance an existing CMBS loan, which was successfully re-negotiated by the borrower. “The borrower’s long and distinguished track record of operating hotels made our decision to refinance the property an easy one,” said iBorrow CEO Brian Good. “Though we had very little lead time before the transaction needed to be closed, iBorrow was able to offer...

iBorrow Provides $4 Million Loan to Bellingham, WA Office Building

As published by Seattle Daily Journal of Commerce and Rentv, iBorrow has provided a $4 million bridge loan to the Granary Building, a 56,529 square foot historic waterfront office building in Bellingham, Washington. Located at 1208 Central Ave, the building includes a 13,000 square foot basement and a 2,800 square foot roof deck, and is part of a 230-acre business park re-development that includes a planned 1.1 million square feet of office space, 2.2 million square feet of industrial space, 450 apartments, a 146-room hotel, 65,000 square feet of retail locations, and a gym and leisure center. iBorrow CEO Brian...

iBorrow Provides $6.85 Million Loan to Norcross, GA Shopping Center

iBorrow has provided a $6.85 million 1st trust deed loan to Peachtree Corners Shopping Center, a 108,000 square foot shopping center in Norcross, GA. The shopping center has a diverse and long-standing group of tenants including Popeye’s, Waffle House, Family Dollar and other local retailers. The center is 90.5% occupied, and has maintained consistently high occupancy levels since it was built in 1985. The address is 7040-7050 Jimmy Carter Blvd. “Despite the attractiveness of this loan and collateral, we were challenged to create a loan with a flexible structure and on a short time frame,” said iBorrow CEO Brian Good....

iBorrow Provides $12.5 Million Loan to Assisted Living Facility in Oxnard, CA

LOS ANGELES— As published by RenTV, San Fernando Valley Business Journal, REBusiness Online and SeniorHousingBusiness.com, iBorrow has provided a $12.5 million loan secured by a 59,650-square-foot facility located in Oxnard, California (“Property”). The Property was originally built in 1960 and is currently undergoing extensive renovations that are expected to be completed in 2018. The building is sited on 2.36 acres of land and consists of 102 units with 128 beds. When completed, the Property will be managed by Meridian Senior Living, the nation’s 5th largest operator of senior living properties. The borrower, Global Premier Development (GPD) has invested approximately $10...

iBorrow Provides Loan for Development of Two Seattle Luxury Boutique Hotels

As published by Rentv.com, iBorrow provided a $5.1 million loan to convert a 25,430 square foot historic Seattle building into a luxury boutique hotel, as well as a $4.6 million loan to develop a 24,000 square foot office building space into a luxury boutique hotel. Both properties are located in the Pioneer Neighborhood of downtown Seattle, located just minutes away from Century Link Stadium, the Seattle Waterfront and Pike Place Market. When fully renovated, the first property, located at the intersection of 1st Avenue South and South Washington Street, will be an amenity-rich 25-room luxury hotel featuring a restaurant, coffee...

Stockton Holiday Inn is Refinanced

As published by Central Valley Business Times, iBorrow provided a 73-room Holiday Inn Express and Suites with a $7 million loan. The borrower plans to use the money to pay off existing loans and upgrade the property. Operating results at the Holiday Inn Express have improved over the past year, likely as a result of increased demand from the two large-scale projects that were recently completed nearby: a 1.4 million-square-foot state prison healthcare facility housing 3,000 inmates and employing 2,500 people, and a 431,000-square-foot Tesla manufacturing facility. “This is a high-quality loan, as the property generates significant cash flow. Despite...

The Promised Land: What’s Next for Portland Real Estate?

A booming city filled with millennials and jobs, Portland’s market has drastically changed over the past several years – especially in the real estate arena. The evolving market has brought more than 41,000 new metro-area residents who are in search of both residential and commercial properties. Portland Monthly turned to iBorrow CEO Brian Good for further insight on Portland’s emerging real estate market in the article “Rising Prices. Fierce Bidding Wars. What’s Next for Portland Real Estate?” With some looming global uncertainly, Portland residents worry about growth and affordability; however, the city’s real estate hasn’t showed any signs of slowing....

iBorrow Provides $7 Million Loan to Refinance Stockton Holiday Inn

-- Economic developments drive demand for hotel accommodations -- LOS ANGELES— iBorrow, a direct lender of private money loans for commercial real estate, has provided a $7 million loan to refinance a 73-room Holiday Inn Express and Suites located in Stockton, California. The borrower plans to utilize the funds to pay off existing loans, and upgrade the property. Operating results at the Holiday Inn Express have improved over the past year, likely as a result of increased demand resulting from two large-scale projects that were recently completed nearby: a 1.4 million-square-foot state prison healthcare facility housing 3,000 inmates and employing...

An Alternative to Traditional Lending: Will McCabe Authors Commercial Investment Real Estate Article

After the 2008 financial crisis, traditional lending sources were unable to provide the same loans they had previously made, and as a result, the floodgates opened for nontraditional lending sources that could fill the void. In his Commercial Investment Real Estate article “Shadow Banking,” Will McCabe, Vice President of Loan Originations at iBorrow, addresses the shadow banking space and the challenges facing the industry. Unsecured debt is exemplified by the way credit cards work – a borrower can effectively delay repayment obligations for years until the lender files a notice of default, and even then, the disputes are taken to...

Honoring Outstanding Achievements in Commercial Real Estate: iBorrow Receives Award for Fund of the Year

Earning a spot on Real Estate Finance & Investments 2017 Awards list, iBorrow received the award for “Fund of the Year – Niche Strategy.” The objective and strategy of the iBorrow fund is to fill the void created by traditional banks’ reticence or inability to provide certain types of lending to certain types of borrowers, by providing first trust deed loans collateralized by bank-worthy commercial real estate. Following the 2008 U.S. financial crisis, regulations and changes to business practices among traditional lending institutions greatly impacted lending, both from the lender and borrower's perspective. Banks can no longer lend against real...

iBorrow Provides $8.8 Million Loan to Refinance Shilo Portland Airport Hotel

Los Angeles, CA— iBorrow, a direct lender of private money loans for commercial real estate, has provided an $8.8 million loan to refinance Shilo Portland Airport, a 200-room, full-service hotel located adjacent to the Portland International Airport. Situated 11 miles from downtown Portland and 10 miles from Vancouver, WA, the hotel encompasses two connected buildings, ample meeting space and a full-service restaurant and bar, totaling 177,325 square feet. “Our decision to refinance the property was easy to make because of the borrower’s long and distinguished track record,” said iBorrow CEO Brian Good. “With little lead time, iBorrow was able to...

iBorrow Provides $1.7 Million Acquisition Loan on Las Vegas Office Building

Los Angeles, CA— iBorrow, a private direct lender for commercial real estate, has provided a $1.7 million loan for a Sahara Avenue office building located roughly two miles from the Las Vegas Strip, currently known as the Milan Business Center. The address is 1785 East Sahara Ave. The borrower intends to make cosmetic upgrades to the office space, reposition the property and re-tenant it at market rates higher than what tenants are currently paying. The Sahara property is centrally located within three miles of the Las Vegas Strip and Downtown Las Vegas. “We loved the business plan we were presented...

The Future of SoCal: Brian Good Moderates Bisnow Panel

Brian Good will moderate a Capital Markets panel at Bisnow’s first ever “Future of SoCal” regional event on November 15, 2016 at the Biltmore Hotel in Los Angeles. His panel will discuss key buyers, and the types of deal terms and structures being seen in today’s industry, as well as how underwriting has changed and what it means for the market. Bisnow is comprised of the industry’s top professionals and thought leaders. The event will address some of the most pressing and attention-grabbing real estate issues in the region.

iBorrow Provides $13.5 Million Loan to Anaheim Assisted Living Facility

Los Angeles, CA— iBorrow, a private direct lender for commercial real estate, has provided a $13.5 million loan to La Palma Royale, a 73,641-square-foot, two-story, assisted living facility located at 525 W. La Palma Avenue in Anaheim. Originally built in 1974, the property has been remodeled twice, and currently has 199 beds with significant expansion rights. The property is equipped to provide first class amenities, security and fully-staffed nursing to its elderly residents. The borrower has been actively managing the facility in recent months while it was under contract to purchase the property from the seller. “The property was well-located...

Observing the Risks of Unsecured Loans: Will McCabe Authors Real Estate Finance & Investment Article

After the 2008 financial crisis and subsequent recession, traditional lending sources found themselves unable to make the same loans they once had. The supply/demand imbalance created an incredible opportunity for non-traditional debt capital providers. As private lenders, debt funds and other alternative lending options began to form the “shadow banking” space, new challenges emerged pertaining to risk management. In his Real Estate Finance & Investment article “Observing the Risks of Unsecured Loans,” Investment Associate Will McCabe discusses the private lending arena, how lenders began making unsecured loans and the risks involved. Unsecured debt is similar to a credit card, in...

iBorrow Provides $3.9 Million Loan to Refinance Office Building in Mesa, Arizona

Los Angeles, CA— iBorrow, a direct lender of private money loans for commercial real estate, has provided a $3.9 million loan to refinance a 40,980-square-foot office building located at 1750-1760 Mesa Drive in Mesa, Arizona. Built in 1987, the property is a two-story, single-tenant administrative office building which is fullly occupied by Fresenius Management Services, a global healthcare company that has been leasing office space in the building since 1999. The building is in a prime area near the Phoenix metro area, which is home to more than 4 million people. For decades, the region has been one of the...

iBorrow Provides $18.05 Million Loan to Purchase an Office Building in Koreatown

Los Angeles, CA— iBorrow has provided an $18.05 million acquisition loan for the purchase of an approximately 133,000-square-foot office building located on Olympic Blvd., in Koreatown, just west of downtown Los Angeles. As part of its acquisition loan, iBorrow will fund part of the cost for the borrower to change the use of the property from an office to a hotel, giving the borrower additional flexibility. The building gained notoriety in 2015 when a fire on the fifth floor forced all of the building’s tenants to vacate the property. The property has been vacant since that time as the previous...

The Real Estate Market Stalemate: Brian Good and Will McCabe Author Western Real Estate Business Article

A very robust commercial real estate market ensued after the 2008 meltdown and rock-bottom interest rates. Buyers became comfortable buying assets supported by low interest rates, along with the idea that demand was still strong. Buyers and sellers have now come to terms with the fact that the real estate market will not last forever. In their Western Real Estate Business article “The Real Estate Market Stalemate,” iBorrow CEO Brian Good and Investment Associate/Originator Will McCabe discuss the standoff between borrowers and lenders. “Because lenders are anxious about what the future holds, they will lend at lower loan-to-value ratios and...

The Ins and Outs of the Lending Industry: Brian Good Presents at Family Office Wealth Management Forum

Securing a loan is much more complicated than it used to be. Depending on various factors, including the borrower’s credit history, a property’s appraisal and the proposed use of the borrowed funds, there are a variety of ways to obtain a secured loan. iBorrow CEO Brian Good participates on the panel “What Every Family Office Needs to Know About the 31 Flavors of Real Estate Debt” at the Family Office Wealth Management Forum on September 21-23, 2016 at the Monarch Beach Resort in Dana Point, CA. The panel is moderated by Tim Lappen, Founder and Chairman of Jeffer Mangels Butler...

A Stalemate Between Buyers and Sellers: GlobeSt.com Turns to Brian Good for an Exclusive Q&A

For the past six months, the bond market has been under siege from a perceived economic slowdown which has sparked market instability. In an exclusive Q&A, GlobeSt.com turns to iBorrow CEO Brian Good for insight on how bonds are playing out in the real estate market. The instability in the bond market has a ripple effect. Deals in escrow are being re-traded by lenders looking to sell to conservative buyers, and transactions have slowed because buyers can no longer afford to pay the low cap rates. This instability has caused many lenders to retrench, triggering a standoff between borrowers and...

iBorrow Provides $2.275 Million Loan for Office Building

Los Angeles, CA— iBorrow has provided a $2.275 million acquisition loan for the purchase of an 8,200 square foot, single story office building located in Irvine. The building is located in an already up-and-running development called Irvine Business Complex. The current tenant has occupied the building for over 15 years and has over 80 locations nationwide. The subject property also sits adjacent to several other large well-tenanted office buildings and hotels, including Oracle’s Orange County headquarters. “The borrower needed to move quickly in order to capitalize on the purchase opportunity,” said iBorrow CEO Brian Good. “We were able to perform...

The Ebbs and Flows of Private Lending: Harlan Peltz Authors Article in Western Real Estate Business Magazine

Prior to the 2008 financial crisis, traditional lenders actively courted and quickly facilitated loan transactions for individuals and small businesses. However, when the housing market collapsed, new regulations caused changes in the behavior of traditional lenders, which has had a significant impact on small business and individual borrowers. In his Western Real Estate Business article “The Opportunity and Risk of Private Lending,” iBorrowco-executive chairman Harlan Peltz addresses private lending, how it came to be and its evolution going forward. Private lending, which has been a meaningful part of the financial ecosystem for generations, emerged as a possible solution to the...

iBorrow Provides $2.25 Million Loan to Purchase Retail Center

Los Angeles, CA— iBorrow has provided a $2.25 million acquisition loan for the purchase of a nearly 5,000-square-foot retail center located east of downtown Long Beach. Although the property is currently 100% occupied, the borrower is planning a major redevelopment and upgrade of the center with a mix of national and local credit tenants. The borrower is taking advantage of the below market month to month lease rates to the increase income at the property. “This particular retail center was an attractive investment for us because it is truly urban infill property that has been underutilized for a long time....

Peer-to-Peer Lending Faces Change: Institutional Investor Turns to Harlan Peltz for Insight

One of the biggest and best-known players in the online lending marketplace, LendingClub, is facing a bumpy road amidst allegations of loan falsifications. However, the rough road doesn’t stop there. For the industry as a whole, participants in marketplace lending are preparing for a new wave of regulations that many believe will lead to new rules and eventual consolidation. Marketplace lending, also known as peer-to-peer lending, was popularized during the 2008 financial crisis, as it aims to remove middlemen from transactions and also gets loans approved quickly and with few restrictions. Yet, there are still big concerns for the large...

iBorrow Provides $3.75 Million Loan to Refinance Memphis Multi-Family Complex

Los Angeles, CA— iBorrow has provided a $3.75 million loan to refinance a 200-unit townhome complex comprised primarily of two-bedroom units located in Frayser, a community in North Memphis, Tennessee. Originally built in 1975, the complex went through an extensive $3 million renovation in 2008, and now features amenities such as a clubhouse, fitness center, swimming pool, tennis court, playground and business center. “We felt comfortable making a loan on this property because of the high occupancy rate and substantial cash flow, along with the low loan to value,” said iBorrow CEO Brian Good. “The borrower’s experience with large multi-family...

iBorrow Provides $2 Million Loan to Refinance Multi-Tenant Warehouse Facility

Los Angeles, CA— iBorrow has provided a $2 million loan to refinance a multi-tenant office/warehouse facility located in Garland, Texas just outside of Dallas. The property is comprised of four buildings, each containing twelve 2,000 square-foot-units. The property is approximately 95% leased, with 70% of the leases exceeding the terms beyond the maturity of the loan. The borrower, Parkway Kirby, Ltd., plans to spend $200,000 to upgrade the property, sign additional tenants to long-term leases and then transition the property for sale. “This property was a beneficial investment because of the low loan-to-value rate,” said iBorrow CEO Brian Good. “The...

iBorrow Provides $16.5M Loan to Assisted Living Facilities in Tarzana, CA and Orange County, CA

iBorrow has provided a $16.5 million loan cross-collateralized by two separate assisted living facilities in Tarzana, California and Orange County, California, respectively. The first property, is an 88-unit, 50,054-square-foot facility and the second property is an 81-unit, 40,207-square-foot facility. Both properties were built in 1974 and were recently renovated in 2016. They are both private pay and offer a continuum of care services to the residents. “The properties are in terrific locations and have had a history of steady cash flow,” said iBorrow CEO Brian Good. “The challenge for the borrower was to find a lender that allowed management to...

Harlan Peltz Talks About New Opportunities in Private Lending with CheddarTV

Click Here - Watch Full Video Interview Co-executive Chairman Harlan Peltz joins Cheddar live, a news video network, addressing private lending and its increasingly vital role in the economic ecosystem. “The pool of the unbanked has grown dramatically. And private lending, which has always taken on a big role in the economy, has taken on a much bigger role now and a much more public role,” Peltz said. Since the 2008 financial crisis tightened credit and capital markets, borrowers are increasingly challenged to access lending. When the economy began to recover, banks were unwilling to make the same loans they...

Focusing on Collateralized Private Lending: Harlan Peltz Featured in GlobeSt.com

As the lending process for traditional banks has tightened, private lending—especially in the commercial real estate industry—has gone mainstream. However, with this increasing acceptance has come a heightened risk of element. In a GlobeSt.com Q&A, iBorrow co-executive chairman Harlan Peltz sheds insight into the current lending environment, and why a more cautious approach is warranted. “The largest segment of private lending is unsecured and many investors neither understand what they own nor what happens in the event of a default,” says Harlan. He explained the risks for unsecured versus secured private loans, and that “these differences are not properly priced...

The Latest Economic Forecast and Real Estate Finance Update: Brian Good Speaks on Debt Panel at Bisnow Capital Markets Forum

iBorrow CEO Brian Good speaks at the Los Angeles Capital Markets Forum hosted by Bisnow on March 16, 2016, at the Water Garden in Santa Monica, California. The event, “The Latest Economic Forecast and Real Estate Finance Update,” will focus mainly on commercial real estate industry trends. Mr. Good will participate on the debt panel, addressing bridge loans and the private lending sector, as well as the challenges faced by the finance markets.

Alternative Financing Sources: The Era of Post-Bank Lending

The 2008 financial crisis tightened credit and capital markets, making access to loans almost impossible for borrowers. As the economy recovered, the demand for debt financing grew, but banks were unwilling to make the same loans they had been making before the financial collapse. iBorrow CEO Brian Good authored an article published in Commercial Investment Real Estate magazine discussing how alternative lending has taken on a larger role over the past few years, as well as the advantages private lenders have compared to banks. Addressing the shortfall between borrower demand and the supply of lendable bank funds, private lenders have...

Central Los Angeles Neighborhood Heats Up: Echo Park’s Increasing Popularity

The densely populated Central Los Angeles neighborhood of Echo Park has become increasingly sought-after for its diverse population, history, restaurants and retail. For the commercial real estate industry, Echo Park’s increasing popularity has not gone unnoticed. Los Angeles Business Journal turned to iBorrow CEO, Brian Good, for an interview shortly after backing a $3.7 million loan to refinance a mixed-use property in the up-and-coming neighborhood. “Echo Park and Silver Lake really remind me of where Venice was at 10 years ago,” said Mr. Good. “When Santa Monica got too expensive, people started moving to Venice. Now, Venice is probably one...

Providing a Platform for Investors in Commercial Real Estate: Investor’s Business Daily Interviews Harlan Peltz on P2P Lending

Although low interest rates still plague income investors, direct lending companies such as iBorrow fund loans to borrowers with money from third-party investors. While iBorrow considers itself a participant in the peer-to-peer (P2P) lending field, they do not currently conduct loan origination or syndication via an online platform. However, iBorrow plans to offer online functions in the future, making it competitive with other players such as Prosper.com and LendingClub.com. In an article published by Investor’s Business Daily, iBorrow co-executive chairman Harlan Peltz discusses how many P2P lenders have diversified portfolios and why iBorrow focuses on loans solely for commercial real...

Big Investors Grow Anxious: American Banker Interviews Harlan Peltz on the Marketplace Lending Standstill

Big-money investors, who fueled the sector’s rapid growth, have increased anxiety in recent weeks as marketplace lending has reached a halt. An uptick in delinquent loans has contributed to a decline in the returns enjoyed by loan purchasers, as well as to the diminishing confidence in the U.S. economic outlook. In an article published by American Banker, Harlan Peltz, co-executive chairman of iBorrow, comments on the widespread unease in the financial markets, stating, “Most people who are in this environment would agree that capital is harder to find.” The monthly yield on loans originated by two leading consumer loan platforms,...

Commercial Real Estate Lending Sector to Face More Rules This Year: Brian Good Comments on Shadow-Banking Market in Commercial Real Estate Direct

The New Year will bring new rules for the commercial real estate lending sector, which faces unprecedented regulatory pressure from risk-retention rules that could fundamentally change the way the CMBS market has operated in years past. Both the existing and upcoming rules are already affecting the lending sector and will continue to do so throughout the year. Early last year, rules governing commercial real estate loans went into effect, increasing the risk of certain acquisition, development and construction loans that banks might write. The banks, which hold nearly one-third of the United States’ commercial real estate loans, have reduced their...

Shadow Banking: A Scrutinized Sector That Benefits the Lending Community

There are many reasons borrowers or deals are handled through the shadow banking system, such as borrowers needing loans quickly or having substandard credit based on the criteria of traditional lenders. In the shadow banking sector, private lenders can base decisions primarily on the value of a borrower’s collateral, evaluating loans to borrowers with low credit scores. In a Q&A with GlobeSt.com, Harlan Peltz, the co-executive chairman of iBorrow, discusses why shadow banking has come under public scrutiny and how the sector is actually a benefit to the lending community. Mr. Peltz expects to see the shadow banking trend continue...

The Senior Debt Lender Viewpoint 2016: Brian Good Participates on Panel at IMN’s Real Estate Opportunity and Private Investing Conference

Eagle Group Finance President Brian Good speaks at one of the largest commercial real estate events on the west coast— the 13th Annual Winter Forum on Real Estate Opportunity and Private Fund Investing. Hosted by Information Management Network (IMN), the event is being held on January 20-22, 2016, at the Montage Resort and Spa in Laguna Beach, California. The panel, “The Senior Debt Lender Viewpoint 2016,” discusses ways to remain competitive, which markets are still a challenge to finance and the biggest impacts on businesses this year. Mr. Good will be joined by Patrick Walsh, SVP of Commercial and Industrial...

A Look Inside LA’s Commercial Real Estate Crystal Ball: Brian Good Speaks on Panel at Bisnow’s Los Angeles State of The Market

Eagle Group Finance President Brian Good speaks on a panel at the 2016 Los Angeles State of the Market, hosted by Bisnow at the JW Marriott in Los Angeles on January 19. The event explores LA’s state of the market in commercial real estate and sheds insight on capital markets, leasing, sales and development. The panel, “Capital Markets: An Investment and Finance Outlook,” discusses how the Los Angeles market differs compared to other business centers, as well as where the risks and opportunities lie. Mr. Good will be joined by Ethan Penner, Founder of Mosaic Real Estate Investors; Russ Allegrette,...

GlobeSt.com Exclusive Q&A: Brian Good Provides Insight on the Misconceptions of Bank Lending

GlobeSt.com turned to Eagle Group Finance President Brian Good for an exclusive interview about why private lending is on the upswing and how private lenders can improve their bad reputation. In the article “Debunking Private Banking Misconceptions” Mr. Good explains that banks aren’t lending as much as people believe and it is the private lenders who are able to benefit. “We don’t see banks softening their criteria to increase their borrower pool anytime soon, and private lenders are picking up the slack in a permanent way,” says Mr. Good. “It’s really about execution and flexibility. A bank underwriting process is...

Eagle Group Finance Sees Bridge-Lending Volume Doubling Next Year: Commercial Real Estate Direct Featured Article

Eagle Group Finance President Brian Good was featured in Commercial Real Estate Direct discussing the upsurge that bridge-lending will have in the upcoming year. Eagle Group Finance moved into the bridge-lending business more than three years ago. Typically providing relatively-small-balance loans to investors, Eagle Group Finance writes loans with terms of six months to three years, providing funding equal to 60 percent of a collateral property’s value. By lending only in non-judicial foreclosure states, Eagle Group Finance can quickly take title to a collateral property in the event of a default. In 2015, Eagle Group Finance completed $100 million of...

$2.5 Million Loan to Refinance Office Building in Las Vegas

Eagle Group Finance provided a private borrower with a $2.5 million loan to refinance an office building located in a prestigious suburb of Las Vegas, Nevada. The building, located at the northeast corner of Hualapai and the 215 Beltway, is currently 98% occupied, and boasts a 50 foot digital marquee reader, as well as ample parking space and high-quality finishes throughout. The 18-month, non-recourse, interest-only loan will be used to refinance an existing loan and buy out a current partner. The borrower owns numerous properties in the Las Vegas area and has an in-depth knowledge of the market. He plans...

$1.3 Million Loan to Finance Apartment Building in Mid-Wilshire/Koreatown

Eagle Group Finance has provided a $1.3 million loan to finance an 8-unit apartment building located in the Mid-Wilshire/Koreatown area of Los Angeles. The property is located in a highly desirable area between Hollywood and downtown. The area has seen an influx of retailers, restaurants, nightlife and boutique hotels over the past couple years. Eagle Group Finance’s loan will be used to finance the acquisition of the property. The borrower plans to use a portion of the proceeds to upgrade the property, re-tenant and raise rents to the market, therefore enhancing its value. Upon stabilization, the borrower will either sell...

Unconventional Capital Sources: Brian Good Participates on Panel at RENTV’s Innovative Real Estate & Financing Conference

Eagle Group Finance President Brian Good participated on a panel at the second annual Innovative Real Estate & Financing Conference presented by Real Estate News and Television (RENTV), discussing alternative funding sources available other than debt and equity. The conference, held on October 6, 2015, brought together a network of dealmakers in the commercial real estate industry to hear informative panels on topics such as creative financing sources, crowdfunding techniques and more. RENTV is a commercial real estate news and media company dedicated to providing news to industry professionals.

$3.1 Million Loan for Culver City Assisted Living Facility

Eagle Group Finance provided a $3.1 million loan to Vista del Sol Propco, LLC to finance the purchase of an assisted living facility. The one-year, non-recourse loan will aid in filling a need in Culver City, which faces a shortage of assisted living facilities. In recent years, the property has suffered from absentee management, but it is well-located and has the potential to bring in $1.2 million in yearly net income. The exit is a Housing and Urban Development loan, which the borrower has successfully accomplished for similar properties. Dov Jacobs, Manager of Vista del Sol Propco, is an experienced...

$1.6 Million Loan for Purchase of Los Angeles Office Building

Eagle Group Finance provided Sepulveda Encanto, LLC with a $1.6 million loan, allowing the firm to develop a single-tenant bank building in Los Angles. The two-year, non-recourse loan will be used to fund the purchase of a two-story, 6,653-square-foot office building, located just south of the Getty Center on Sepulveda Boulevard. The borrower will then use his own cash to convert the office to a bank. Mike Schwartz, manager of Sepulveda Encanto, has more than 20 years’ experience in structuring financing for commercial real estate transactions. He also engages in his own transactions from the principal side.

$7 Million Loan for Refinance and Upgrade of Low-Income Housing in South Los Angeles

Eagle Group Finance provided Premier Apartments, L.P. with $7 million in short-term debt to refinance a portfolio of five low-income multifamily assets in South Los Angeles. In addition to refinancing, the one-year, interest-only loan will be used for general property upgrades for a mix of 120 studio, one-, two- and three-bedroom apartments that qualify for Section 8 housing assistance. The portfolio is 100 percent occupied. “Section 8 Housing must meet specific housing quality standards and our financing allows Premier to continue offering safe and affordable rental housing,” said President Brian Good. Premier is an experienced multifamily home owner and operator...

$2.5 Million Loan to Refinance Orange County Car Wash

Eagle Group Finance provided Edwards Express Partners, L.P. with a $2.5 million first mortgage loan to refinance the H2Go Express Car Wash in Westminster, CA. The three-year, non-recourse interest-only loan will be used to pay off the existing construction on the 24,000-square-foot car wash. Financed by Los Angeles-based brokerage firm Financial Compound, the loan will also help the borrower qualify for more traditional bank debt at the end of the term. “The majority of traditional lenders will not lend on car washes because of the special use nature of the asset,” said President Brian Good. “We were willing to fund...

$10 Million Loan to Expand One of Nation’s Largest Transit Stations in Chicago

Eagle Group Finance provided a $10 million loan to the Gateway Transit Development project, a 55-acre mixed-use real estate development that will surround the El Monte Metro Station, the largest transit station west of Chicago. The funds will be used to acquire an additional 3.7 acre parcel of land, which the MTA will use for public parking to service and access the transit station. The borrower will also use the funds to remodel an existing MTA billboard sign. Through the Gateway Transit Development project, Grapevine Development will create 487 multi-family rental units, 25,000 square feet of retail space, a 200-room...

Market Concerns Lead Investors to Seek Low-Leverage Opportunities: iBorrow Featured in Real Estate Finance & Investment Magazine

In a feature for Real Estate Finance & Investment magazine, Harlan Peltz, co-executive chairman of iBorrow, discusses concerns regarding the stagnant market and how investors are seeking low-leverage opportunities in order to secure safe loans. “We come to these transactions from an investor’s point of view. We’re trying to get safe yields and see private lending as a proxy for that,” said Peltz. The Los Angeles-based direct lender was established three years ago, and provides opportunities for its investors to participate in funding loans it originates. Unlike other firms, iBorrow does not charge investors fees or expenses for participating in...

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