NEW YORK--(BUSINESS WIRE)--RealFi Real Estate Investment Trust has closed a bridge loan totaling $2,250,000 in Upstate New York for an experienced commercial real estate owner and operator. The loan is secured by three distinct multi-family properties totaling 86 work force housing units and encompassing 75,525 sq. ft. above ground space. RealFi REIT’s loan was used to assist the sponsor in recapitalizing the properties.
Located in Washington, Herkimer and Montgomery Counties, the properties are all occupied and cash flowing. The sponsor has a history of catering to the housing needs of working-class families in the tertiary markets north of Westchester County.
RealFi – Redefining Real Estate Lending
RealFi is a leading, technology driven, alternative investment management firm with expertise in real estate credit strategies. We are redefining the mortgage process from the ground up by combining an innovative approach with an experienced management team. We combine state-of-the-art technology with in-house expertise creating a seamless, transparent process that transforms mortgage lending from beginning to end. Through its subsidiaries, RealFi is an originator of qualified and non-qualified residential home mortgages and through the RealFi REIT, is a direct lender focused on originating commercial real estate bridge loans ranging from $1MM - $25MM in major markets throughout the United States. RealFi currently has approximately $40 million of AUM across several investment vehicles and its’ principals have originated over $300 million of real estate backed loans. To learn more about RealFi, visit www.rhfunding.com.