LOS ANGELES--(BUSINESS WIRE)--Realty Mogul, the online marketplace for real estate investing, is launching a commercial lending division expected to expand the company’s previous success in the commercial equity and residential lending sectors and steer the lending platform toward sources of larger loan amounts on commercial real estate properties.
“We see a sizable opportunity in this space and our larger institutional capital partners have expressed great interest in the commercial lending sector,” said Jilliene Helman, CEO of Realty Mogul. “Our commercial lending division will focus on $1-$10 million loans, including private money, bridge and permanent financing.”
As part of this development, Realty Mogul has appointed Philip Block as a senior vice president of commercial lending and Megan Goodfellow as the company’s head of credit, commercial real estate.
Block, previously the vice president of corporate finance and capital markets at Centerline Capital Group, will be responsible for the direction and growth of the lending platform as the company steers into the commercial sector. Goodfellow, who also was at Centerline and earlier led credit for the CMBS group of JP Morgan Chase, will be responsible for the credit risk management of the platform.
First quarter financings for Realty Mogul includes an apartment building in Brooklyn, NY, an apartment building in Bel Air, CA and an office building in Washington, D.C, among many others. The company recently opened its second office location in Irvine, CA.
About Realty Mogul
Realty Mogul is an online marketplace for real estate investing, connecting borrowers and sponsors to capital from accredited and institutional investors. Through its website, Realty Mogul gives investors tools to browse investments, conduct due diligence, invest online and have 24/7 access to an investor dashboard to watch how their investments are performing. Realty Mogul partners with sponsors and borrowers to provide these companies with access to a broader capital pool, as well as to provide tools for investor communications and distributions. As a result, the platform functions as a bridge between investors and real estate companies looking for funding. Realty Mogul offers equity securities through WealthForge, LLC, member FINRA/SIPC. For more information on how to become a real estate investor or to seek capital through the Realty Mogul marketplace, please visit www.RealtyMogul.com.