Suppose your client has $2 million in senior debt on an apartment complex that represents 50% LTV. Your client is calling you because he needs another $1.2 million to complete upgrades and repairs, but the bank won’t refinance his project up to 80% LTV. You could spend time trying to find a lender who would refinance this project up to 80% LTV, and if you were lucky enough to find someone the interest rates are likely to be higher than the financing currently in place on the project. Perhaps a better suggestion would be to secure mezzanine financing to supplement the existing loan and get the total financing up to 80%.

As compared to financing for residential properties, commercial properties are much more unique and seeking the correct type of financing is more nuanced. This is also one of the reasons that your clients need your expertise to help them get the financing they need.

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

1.      Senior Debt

2.      Mezzanine Debt

3.      Preferred Equity

4.      Sponsor Equity

 Our team at Remington is well-equipped at every level of the capital stack with the best access to active lending funding sources. We are also in an unmatched position to guide owners and brokers to the optimum financing structure.

Wishing you the best in 2010. I hope we can talk soon about how we can help.  Thank you – Travis Schmidt

Greg L’Herault is an expert in commercial lending and corporate finance, bringing 15 years of experience in commercial lending, corporate finance, financial and credit analysis, loan origination and underwriting. Prior to Remington, L’Herault held banking and finance-related positions at Vencore Capital, Silicon Valley Bank, Level 3 Communications, DirecTV, and US Bancorp.

Our origination team works closely with the structured finance group on behalf of our clients to make sure no stone is unturned regarding possible funding sources for potential transactions. As a Remington loan placement officer, Greg L’Herault will be responsible for reviewing, structuring and tailoring transactions to lender requirements and market conditions once due diligence is completed. He will prepare and package each transaction for lender presentation and manage the on-going placement process until funding is finalized.

Having more professionals like Greg adds to our capability to provide the best access to commercial capital. Welcome Greg!  Thank you – Travis Schmidt, Remington

A potential client of Remington intended to purchase retail property in the Raleigh, North Carolina area. Because of the ability by Remington to acquire funding for very difficult deals, the principal engaged us to obtain funding for their first commercial investment property.

The individual borrowing funds had a low credit score, no experience, and little overall net worth. However a substantial real estate property had a sales contract at a very competitive price. Remington was able to complete the transaction due to the strength of the property and the borrower’s good insight throughout process. As a result, Remington structured $960,000 senior and mezzanine financing, representing a 95 percent LTV when combined with the seller financing which occupied a third mortgage position. A combined rate of 7 was used to supply senior and mezzanine financing, 75% spread over a period of seven years with 25 year amortization.

At Remington we work with both experienced and new investors through our broker network to complete the most difficult transactions.  We pride ourselves on our fresh access to commercial capital, unmatched in the commercial financing industry.

Our team at Remington has unsurpassed access to a well-funded network of public and private capital sources for minimum transaction amounts of  $500,000 in the U.S. and $5 million abroad.

Available Financing Programs at Remington

Senior Debt

• All Property Types and Corporate Purposes
• $500,000 Minimum in the US and $5,000,000 Internationally
• Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance

Mezzanine Debt

• All Property Types and Corporate Purposes
• $500,000 Minimum in the US and $5,000,000 Internationally
• Aggregate Leverage up to 85%
• Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance

Equity

• All Property Types and Corporate Purposes
• $500,000 minimum in the US and $5,000,000 Internationally
• Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance

Preferred Equity

• All Property Types and Corporate Purposes
• $500,000 Minimum in the US and $5,000,000 Internationally
• Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance

Joint Venture Financing

• All Property Types and Corporate Purposes
• $500,000 minimum in the US and $5,000,000 Internationally
• Active Investment
• Acquisition, Development, Construction, Construction to Permanent, Rehabilitation, Bridge, Refinance

We arrange specialized financing for the these property and business types:

• Land
• Industrial
• Multifamily
• Office
• Retail
• Mixed Use
• Hospitality
• Medical Office
• Healthcare Facilities
• Senior Housing
• Student Housing
• Special Purpose
• Restaurant
• Self Storage
• Manufactured Home Parks
• Business Working Capital
• Business Investment Capital
• Entertainment & Multimedia
• Franchises

Please give me a call to discuss these opportunities for your specific situation. Thank you!  Travis Schmidt

Access is a key to client success at Remington. What do I mean by ‘access’?

• Access to the unmatched expertise of our Structured Finance Group
• Access to our highly regarded global network of private and public sources of capital
• Access to equity, mezzanine, and senior debt financing, as well as special-purpose bridge and construction loans in minimum loan amounts of $500,000 in the U.S. and $5 million internationally

Every day I work closely with brokers, mixing and matching commercial lending options in creative ways to secure the best possible financing for owners and developers consistent with their objectives and market conditions. Let’s discuss your specific situation today.  Thank you!  Travis Schmidt

We are ideally positioned as an intermediary between clients in need of financing (especially those with problematic projects) and hundreds of institutional sources of commercial capital with whom Remington has strong, active and effective relationships.

The experts at Remington have in-depth knowledge, market expertise, and a commitment to client advocacy that translates into creative, and value-enhancing insight to help evaluate, restructure, and customize previously difficult-to-fund transactions into new financing opportunities.

Mezzanine Financing

Remington offers a comprehensive program that accesses mezzanine and preferred equity capital providers nationwide. The program organizes available capital according to the providers’ preferred property type, geography, leverage level, term, type of security required, and other differentiating factors.

Please give me a call and I’ll be pleased to explain further and work with you to find the right solution.  Thank you – Travis Schmidt, Remington