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LendVer, the reputable database of vetted business and investment property lenders has finalized its review process for the 2019 Best Bridge Lender, and has selected Dallas, Texas based Revere Capital. Revere Capital funds short-term bridge loans and provides equity investments and specialty financing from $2 million to $30 million secured by investment residential real estate, commercial real estate, and other assets. Revere recently funded a $25 million bridge loan secured by an 816,000 square foot, 22 acre mall complex. Revere also recently provided a $15 million credit facility to a motorcycle leasing company, and a $20 million credit facility to a specialty finance company focused on the film and media industry.

Even this late in the game, capital continues to come into the market at a very heavy clip, so it’s a great time to be a borrower or a broker,” says Gary Bechtel, president of Money360, a debt fund based in Los Angeles that closed $528 million in loan volume in 2018 and is aiming to originate $800 million this year. Indeed, commercial real estate finance companies originated a record $573.9 billion in loans last year, an 8 percent increase over 2017 volume, according to the Mortgage Bankers Association’s 2018 Commercial/Multifamily Origination Summation. If borrowers have non-recourse or light-recourse debt and have already taken out their equity,” he cautions, “what’s their incentive to stick around at the first sign of a downturn?” Nevertheless, cash-out deals give property owners a chance to extract some of the value they’ve created, especially given the slide in interest rates this year, argues Dean Giannakopoulos, senior vice president of Marcus & Millichap Capital. In January, Los Angeles-based debt fund Thorofare Capital provided a $7 million, nine-month loan to refinance three assets in San Diego — an office building and two apartment complexes — that the borrower was preparing to market for sale.

Revere Capital announced it has funded a $25 million refinancing of Brookwood Village. The loan was “a complicated transaction with numerous moving parts,” Sybill Ellis, Revere Capital’s senior vice president said. “By establishing a good relationship with a very reputable sponsor and broker, and working to overcome issues Brookwood Village, located on 22 acres between Mountain Brook, Homewood and Vestavia, was built in 1973 and recently underwent a massive $20 million renovation after Cypress Equities bought the 816,000-square-foot mall from the former Colonial Properties Trust in 2015.

Newmark Knight Frank’s debt and structured finance team has secured $23.5 million from Dallas-based Revere Capital to refinance Stone Street Properties’ rental building at 16 East 18th Street, Commercial Observer can exclusively report. The refinance took out roughly $18.5 million in acquisition financing from Arbor Realty Trust, provided in September 2015, according to records filed with the New York City Department of Finance. “Stone Street Properties has a proven track record in Manhattan, and a sound business plan at [the location],” Jonathan Shapiro, a senior vice president at Revere Capital, told CO in an email. This includes live-work-play locations like 16 East 18th Street, as well as the more secondary and tertiary market transactions outside of New York City.