HACKENSACK, NJ-Investment firm Silver Arch Capital Partners has launched a new bridge loan practice with $2 billion in the pipeline, a move aimed to expand their national platform in the commercial real estate market, GlobeSt.com has learned. The firm, which will specialize in quick closing on bridge loans to owners, investors and developers seeking financing outside the scope of traditional sources of funding, will be headed by industry veteran Jeffrey Wolfer.
As opposed to traditional lenders, Wolfer says the firm will emphasize low-cost, fast-funding. “Because access to capital remains challenging in the current economic climate and can be challenging for many in any economic climate, it is important to have a depth of experience and creativity on your side when seeking financing,” he says, in a statement.
Also part of the executive team is managing director David Vynerib, whose 14-year resume includes Sigma Capital Partners, CIBC Oppenheimer and Axiom Capital, working with investment banking clients and the firms’ institutional sales and private client groups. He was also one of the founders of Citi Habitats, one of Manhattan’s largest rental real estate firms.
The firm will offer funding from acquisitions, restructurings, discounted payoffs, note purchases, property improvements and new constructions. Silver Arch draws from a variety of financial resources, among them a strategic partner with a $2.5-billion balance sheet. Loan sizes will range from $5 million to $100 million, for one- to three-year terms with extension options. Interest rates range from 9%, LTV up to 75%, and fees range from 2%.
Be sure to check GlobeSt.com for a follow-up story on SilverArch tomorrow morning.
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