SF Capital Increases Patch of Land’s Debt Facility by $20 million
SF Capital Group has expanded Patch of Land’s senior debt credit size from $10 million to $30 million. The platform started a lending relationship with SF Capital in 2015 when the later ran a Series A funding round that raised $23.6 million.
With this novel debt facility, Patch of Land will be more flexible in funding loans, and thus support its increasing mortgage loan origination volume. The expanded facility complements the robust crowdfunding network on the platform. It presents an opportunity for the company to expand its pre-funding efforts to meet unique lending needs for real estate investors.
Debt facility is one of the strategies that Patch of Land is using to improve real estate borrower’s experience. This strategy also allows the platform to create more commercial and residential real estate investment opportunities.
According to Patch of Land’s CEO Paul Deitch, “SF Capital has been a great partner, and this expanded facility will help Patch of Land continue the growth that has resulted in a very strong year for the company. We continue to scale our business to meet our growing originations volume, and to fill a void in the real estate finance industry by expanding and improving our marketplace, developing new products for various classes of real estate entrepreneurs, and enabling investors from Main Street and Wall Street the opportunity to participate in this attractive asset class.”
The new debt capacity gives Patch of Land greater ability to focus on real estate investors that buy, refinance and renovate small commercial and single-family residential properties across the U.S. The platform has recorded impressive results over the past two years and is very hopeful about their future.
SF Capital Group’s Neil Wolfson said, “SF Capital works to identify and invest in high-quality companies with strong management, unique value propositions, and differentiated product offerings with an ability to scale to profitability within significant target markets. We have been pleased with our ongoing relationship with Patch of Land and are expanding our position because we believe that the company has the ability to significantly grow its top and bottom lines.”
SF Capital is a private investment company with flexible, long-term investment focus on single family interests. As a leading peer-to-real estate lending marketplace, Patch of Land has cumulatively originated over $311 million in credit debt loans since its inception. So far, the platform has returned more than $76 million to investors.
Source: Times Realty News