San Jose, CA (August 4, 2017) – Revere Capital Founder Clark Briner announced today the firm has provided $3.1 million in short-term funding for a multifamily development in the heart of San Jose’s Japantown.
The borrower is building over 90 apartment homes on a 1.24-acre site at 535 N. 7th Street in San Jose, according to Richard Caldwell, a Senior Vice President with Revere Capital based in the firm’s San Francisco office. He facilitated the loan on behalf of Revere Capital at the apartment developer’s request.
Details on the bridge loan were not available, though Caldwell indicated the financing is for less than a year with extension options. The site formerly housed an auto repair shop and car storage lot. Much of that section of Japantown is being converted to housing.
About Revere Capital
Revere Capital serves real estate investors, operators, and developers by directly providing private capital debt for their projects throughout the United States. The firm lends on acquisitions, refinance, note purchases, discounted payoffs, and cash outs. Bridge loans are offered from $3 million to $30 million. Medium-term notes are also available. The firm’s highly disciplined underwriting utilizes fundamental real estate analysis and research with an emphasis on intrinsic value to create a diversified portfolio for investors. Revere Capital brings institutional execution to the middle market credit space. The principals have over $3 billion of real estate transaction experience across private equity, real estate investment banking, and workouts. For the third consecutive year, Revere Capital was named by Inc. Magazine as one of the fastest 5000 growing companies in America. Headquartered in Dallas, TX, Revere Capital also operates offices in San Francisco, CA, Atlanta, GA, and Darien, CT.
(August 4, 2017), The Registry Bay Area Real Estate