10A — February 19 - March 12, 2021 — Financial Digest — M id A tlantic Real Estate Journal
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F inancial D igest
erus Commercial Real Estate Finance, LLC (VCREF) is a subsid - Lender provides CRE bridge loans as well as a permanent loan for SFR portfolios Verus Commercial Real Estate Finance is a nationwide balance sheet lender V
permanent loan product for single family rental (SFR) portfolios. As a specialty fi - nance lender, VCREF spe - cializes in providing loan solutions that are customized to meet the specific business needs of our borrowers. Fi - nancing with VCREF provides borrowers a personalized loan experience with a quick closing time frame that other competitors do not provide. By offering flexible structure and a streamlined funding process, VCREF can quickly address any challenges that arise and adjust our deal
Rochelle, NY , demonstrating our flexibility and ability to tailor a loan that addresses the interim financing needs of our borrowers. In another situation, VCREF was able to refinance one property in order to recapture equity for the ac- quisition of a second property, resulting in a $4.25M funding. VCREF considers most asset classes for our bridge loan program, including office, re - tail, industrial, multifamily, hotels/hospitality, parking retail, condos, mixed-use, self- storage, manufactured hous- ing, and SFR portfolios.
In addition to our active br idge lending plat form, VCREF’s SFR portfolio pro - gram recently launched as an additional loan product that is synergistic with Verus Mortgage Capital’s residential business. The SFR portfolio program provides SFR inves - tors with 5, 7, or 10-year loans with either interest-only or amortizing options. This loan program accepts a minimum of three properties per portfolio, and property types includes single family detached, 2-4 units, warrantable condos, PUD, townhomes, multifamily up to 20 units, modular homes, and leaseholds. Unlike the bridge program, the SFR port - folio program follows a more specific loan matrix to identify if the portfolio’s metrics fit within our underwriting guide- lines. This includes a DSCR minimum, sponsor experience and net worth, as well as credit score requirements. As 2021 begins, VCREF is excited about our position in the financing sector and sees great demand for the kind of financing that we provide. We continue our commitment to be the most innovative and creative lender in the business. Ken Wood is managing di- rector of Verus Commercial Real Estate Finance. MAREJ The Stro Cos. refinance two properties with Signature Bank NORTHERN NJ — The Stro Companies has re- financed two properties in Northern NJ, 2 Amboy and 111 Moonachie, with Signa- ture Bank for a combined $9.6 million. “We are thrilled to have consummated these two refi - nances with Signature Bank. They have been a great bank to work with and were able to quickly execute on these two deals despite COVID-19,” said Jack Shulman , director of leasing, acquisitions and Capital Markets at STRO. “Certain banking institutions took a step back from lending when COVID-19 hit and only in the last six months has the ice thawed. Banks are eager to lend on multitenant industri- al-warehouses, particularly in Northern New Jersey, where STRO’s portfolio is located.” said Shulman. MAREJ
structure accordingly. The bridge loan program offers capital for transitional prop- erties for a mixture of situa- tions, including acquisitions, refinances, equity recapture, and renovation. Our recent bridge loan fundings con- tain a variety of scenarios and locations, ranging from a $17.8M multifamily conver - sion in White Plains, NY to a suburban office building acquisition in Fairborn, OH for $3.1M (which was closed in just 17 days). VCREF also recently closed on a mixed-use portfolio in Yonkers and New
iary of Verus Residential Loanco, LLC d/b/a Verus M o r t g a g e Capital, who is a leading provider of c a p i t a l i n the residen-
Ken Wood
tial non-QM space. VCREF is a nationwide direct lender that provides bridge financ - ing solutions for commercial real estate assets as well as a
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