- Borrower serves the full credit spectrum of consumers in the power-sports market, from prime to deep subprime (Tiers 1-6)
- Borrower uses cutting-edge technology and sophisticated proprietary models to underwrite and service its leases
Consumer Installment Loans II
- The Company offers unsecured personal loans ranging from $1,500 to $10,000
- The Company has developed a proprietary credit management system that enables it to underwrite the risk of low-to-moderate income customers with below-prime credit
- The Company operates in 11 states
- Secured by two office buildings in the Las Colinas submarket of Dallas.
- One of the buildings is a multi-tenant office, currently 23% occupied. The other building is a single-tenant office that is 100% occupied.
- Revere’s loan was used by the sponsor to refinance the current mortgage.
- Exit is expected via a bank loan refinance upon lease-up of the multi-tenant office.
- Loan was executed by Revere in just over two weeks.
- Revere Capital funded a $3,220,000 loan to acquire the recently completed Hobby Lobby store in Fairfield, California
- All tenant improvement work has been completed, but Hobby Lobby is unable to take position of the space until the shelter-in-place orders are lifted
- The intended permanent lender had to pull back from the transaction at the last minute due to the COVID-19 situation
- The seller was unwilling to extend the acquisition escrow, so Revere funded and closed the transaction in just nine days
Revere Capital funded a $6,450,000 loan to acquire the leased fee interests in two retail centers anchored by Gold’s Gym, who executed new 15-year NNN leases. Gravois Place (86,931 square feet) is located in Fenton (suburban St. Louis) MO, and The Shops at Walzem (55,526 square-feet) is located in San Antonio, TX.
- Proceeds were used to acquire the properties.
- Simultaneous with the acquisition, the Borrower entered into 99-year ground leases in which the Borrower leased the Properties to the ground lessee in exchange for a lump sum initial payment and escalating, annual rental payments.
- This is Revere’s fifth loan with this repeat Borrower, who relies on Revere to work quickly in order to make their closing deadlines.
- This transaction closed in under 10 days.
Revere Capital funded a loan totaling $20,100,000 secured by two office buildings in Colorado Springs, CO.
- Loan proceeds were used to acquire the properties and capitalize a reserve account for future leasing costs.
- Loan with time needed to negotiate lease extensions with two major tenants that occupy the properties.
- Loan closed just four business days after signed term sheet.
Revere Capital funded a $4,650,000 loan secured by a first lien on 16-unit, 49-bed multifamily property located in Raleigh, NC. Proceeds were used to acquire the property.
- Proceeds enabled the Sponsor to acquire the Property in an expedited time frame
- Property is located in the booming Raleigh market and in close proximity to NC State University
- Transaction closed in under 20 days
Revere Capital funded a $76,000,000 loan secured by a portfolio of industrial assets in Harrison, NJ.
- Properties are located in a prime location, within very close proximity to New York City and allow the rare opportunity for a larger development in this area
- Tenants of the Properties consist of several large, multinational companies
- Sponsor has been in business since the 1950’s and is a mainstay in the city of Harrison
Revere Capital funded $5,500,000 loan for the acquisition of leased fee interest in a 160,000 square-foot retail property sitting on an 18.6-acre lot located in Charleston, West Virginia.
- This is the 4th loan made for this Revere Capital repeat borrower
- Security comes from a 99-year ground lease on the leasehold improvements
- Property is occupied by several national and regional tenants
- Transaction closed in less than one week
Revere Capital funded a $13,750,000 loan secured by a first lien on a mixed-use portfolio in Denton, TX consisting of a 70,000-sf office building and 19 multifamily units.
- Proceeds were used to acquire the property
- Collateral consists of the landmark office property in the downtown Denton area
- Transaction closed in under 5 days. The expedited closing was a result of the Sponsor’s original lender failing to perform and a purchase contract with a hard and fast closing date