Private Mortgage Lenders Join Forces to Create Real Estate Lending Platform for Commercial Properties in Primary and Secondary Urban Markets Nationwide
Beverly Hills, Calif./New York, NY—November 27, 2019—BridgeCore Capital, Inc. and Avant Capital today announced the formation of a joint venture to create an industry-leading, nationwide bridge lending platform, providing short-term loans, secured by first and second trust deeds, on quality commercial real estate in primary and secondary urban markets nationwide.
“We have bundled our strengths, including more than 50 years of combined expertise and resources, to serve a growing customer base, coast to coast,” said Elliot Shirwo, founder and principal of Beverly Hills-based BridgeCore. “Both organizations are aligned with private and institutional capital partners, and have proven creative and marketing capabilities, and expert operational expertise.”
“With highly regarded reputations in our respective markets, our new venture is a win-win opportunity,” said Adam Luysterborghs, managing partner of Avant, with offices in New York City and Westport, CT. “Our mutual goal is to mitigate risk and maximize return for everyone in the lending relationship and to provide advantages that enable real estate investors to successfully execute their business plans with peace of mind.”
The venture will provide short-term loans ranging from $1 million to $15 million on commercial real estate in prime markets, including origination of senior and subordinated debt and purchase of non-performing loans secured by first trust deeds. Additionally, borrowers throughout the nation will be able to take advantage of BridgeCore’s unique “Pay-Rate Protection” product, which reduces borrowers’ monthly payments with a 4.99% per annum (“Pay-Rate”) for the entire loan term, deferring the remaining interest until loan pay-off.