Institutional private money lender CIVIC Financial Services has announced that it has surpassed $4 billion in loan originations since the company’s founding six years ago.
“We’re thrilled to reach this important milestone, especially today as we help our clients and partners to navigate COVID-related capital contraction and maintain liquidity while continuing to achieve their real estate investing goals,” said William Tessar, president of CIVIC. “We look forward to many more years of serving the real estate investing community by providing the best private lending products, support and service available in the industry.”
Reaching $4 billion in originations is the third major milestone in as many years for the lender. CIVIC topped $3 billion in lifetime funding in October 2019, and in June 2018 announced that it had securitized $190 million in investor property loans. At the time, it was the largest securitization pool of non-aggregated bridge-only loans from a single lender in the history of private money lending.
“Even during a time of market vulnerability, property investment remains one of the most robust and fastest-growing segments of the real estate industry,” Tessar said. “We are pleased to serve and remain a reliable source of financing for a large share of that market.”
CIVIC was founded in 2014 by parent companies Wedgewood and HMC Assets. It provides real estate investors with short- and long-term financing, including bridge and rental loans for residential properties, rehab financing and non-recourse multifamily bridge loans. CIVIC’s loan products are available through retail, wholesale and correspondent channels.
Published at Mon, 05 Oct 2020 11:00:04 +0000