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IRVINE, CA—The new partnership between Money360 and Ten-X Commercial will speed the transaction process for sellers and buyers, enabling Ten-X customers to obtain bridge loans within two to four weeks and permanent loans within six to eight weeks, Money360's CEO Evan Gentry tells GlobeSt.com. As we recently reported, online real estate transaction marketplace Ten-X and technology-enabled direct lender Money360 have formed a partnership to offer financing for properties available for sale. The partnership aims to expand the investor pool for commercial properties listed on Ten-X by giving prospective buyers assurance they will be able to procure the necessary financing to fill the deal's capital stack, while providing sellers and their brokers increased confidence that once terms are agreed upon, buyers will be able to source a loan and close the deal.
We spoke with Gentry about how technology has altered the CRE process and what the partnership means for the industry.
GlobeSt.com: How has technology greatly altered the CRE process?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
