Remington Financial Group – Travis Schmidt

We are pleased to announce that Aaron Bogdanoff has been appointed to head up our Affiliate Broker Program. Aaron will be recruiting highly qualified affiliates who will then be permitted to market Remington’s services worldwide.

The United States has seen a recent trend of slowing construction loans. Lenders are cautious about lending money for construction projects, due to the flooded construction market.

Read The Full Story Here.

Across the country, evictions are down. The question is asked, why? The obvious answer would be that tenants are paying their rent on-time. That answer would be wrong, in-fact quite the opposite. Less Tenants are paying their rent on time. So again, why are evictions down? The fact is, landlords can simply not afford the costs associated with an eviction. Most would rather have late rent, than none at all. Because the fact is, if they evict a tenant, chances are that the space/dwelling would remain empty for an extended period of time. Many Apartment buildings are filing for bankruptcy. Others are looking for Recapitalization financing. With conventional sources still not loaning funds, chances are scarce that their project will be relieved, unless they turn to alternative sources of capital.

Read about Phoenix’s landlord crisis here.

Up until recently, lenders and special servicers have done little to deal with the mounting volume of distressed mortgages in CMBS pools because it is so difficult to get all interested parties on the same page. But now the sheer volume of distress is forcing their hand.

In March, the unpaid balance on CMBS loans transferred to special servicing reached a trailing 12-month high of $79.83 billion, of which retail loans accounted for about 25 percent of that total, according to Realpoint LLC, a Horsham, Pa.-based credit rating agency.

Overall, special servicers remain reluctant to liquidate distressed loans because that would mean selling foreclosed properties at a loss. So far this year, the loss severity on liquidated retail loans has averaged 47.9 percent, according to Realpoint.

See More Here.

Health Care reform is gaining ground. It will extend coverage to over 30 million people who weren’t covered before. Experts predict that in the coming months demand for Primary care will skyrocket as will demand for Healthcare facility capital. Remington offers specialized financing for Medical and Healthcare offices and facilities. Remington has the necessary resources and expertise to secure Healthcare financing in a trivial market.

Early estimates show that in the first quarter of 2010, commercial delinquency rates rose from 5.1% to 5.5%. Although 5.5% is well below the 8% delinquency in Q3 of 1991, this is still worrisome due to scarce credit and the overwhelming amount of maturing commercial loans. Current data shows that delinquency rates are only going to continue to rise into 2011. Remington offers distressed owner recapitalization programs, and has the experience and resources neccessary to secure financing when banks are not giving out funds.

To learn more about Remington’s Recapitalization options, please click here.

As a recent article in DSNews.com http://www.dsnews.com/articles/investors-find-opportunities-in-distressed-commercial-real-estate-assets-2010-03-22 states, “Now is the time to invest.” With the access to capital, savvy investors have the opportunity to capitalize on the challenges holding the majority back – Remington doesn’t face this problem!
With access to capital, all across the capital stack, RFG has been structuring this type of distressed asset financing before the problem was upon us. Our dedicated structured finance division works diligently everyday, continually working viable solutions for each one of these troubled owners. As I have always believed, “Great rewards are achieved by the ones standing up and working with the conditions that we are faced with.”

The Remington Chairman Andy Bogdanoff recently met with national experts to discuss breaking through the current commercial real estate liquidity crisis.

Andy told the group that he believes recapitalization with private capital sources can help many of the nation’s distressed real estate owners and developers. To assist distressed owners, he shared a new recapitalization program that bypasses traditional banking sources.

“The Distressed Owner Recapitalization Program is aimed directly at distressed owners and developers,” he said. “For those unable to refinance loans, we can tie together the expert capital advisory services of Remington with access to hundreds of active private funding sources ready, willing, and able to recapitalize troubled commercial real estate assets across the capital stack.”

There have been several recipients of funding from the new recapitalization program by Remington.  One that I’ve worked on had Remington creatively restructuring the distressed owner’s business plan in such a way that the owner could successfully tap into our extensive network of private lenders and investors. Instead of having to sell or declare bankruptcy, the distressed owner secured through Remington an SBA 7(a) loan that allowed him to stay in the game.

“This is just one example of how creative financing expertise combined with access to private capital can help fill the potentially disastrous gap that is being created in the capital markets by the on-going liquidity crisis,” Andy Bogdanoff said.

If you’re a broker looking for fresh ideas to break through these challenging times, please give me a call and let’s discuss how we can help. Funding is currently available, and we welcome you to learn more about the program. Seminars are available 24/7 for you to learn more, too.  Thank you!  Travis Schmidt at Remington

Our unmatched access to commercial capital has resulted in billions of dollars of transactions since 1993. Our founder Andy Bogdanoff has serviced clients in our industry for over 30 years.

Despite the world’s economic trials and tribulations, Remington continues to expand and grow financing options for our brokers. Here are some recent transactions in hospitality.

$12.5 MM – Hotel, Permanent Financing – GA

$23.5 MM – Hotel, Permanent Financing – PA

$13 MM – Hotel, Construction Financing – NY

$4.5 MM – Hotel, Bankruptcy Reorganization Financing – MO

$12 MM – Hotel, Permanent Financing – VT

$62.6 MM – Hotel, Acquisition / Redevelopment Financing – IL

$17.6 MM – Hotel, Construction Financing – NJ

$7 MM – Two Hotels, Acquisition Financing – GA

For hospitality or other commercial real estate segments, let’s talk about financing for your situation.

A couple weeks ago I discussed a recent mezzanine financing transaction completed with the help of Remington. I’m pleased to further announce a new website that more broadly covers mezzanine financing options with Remington. It is located here:  www.remingtonfinancialmezzaninefinancing.com

Mezzanine financing fills the gap between equity and senior debt in the capital stack and is subordinated to the senior. Sources of mezzanine debt include pension funds, insurance companies, other financial institutions, state agencies and mezzanine debt funds.

Let’s discuss how mezzanine financing can fill your needs to support a problematic transaction.  Thank you!  Travis Schmidt