Several experienced lenders have joined together to form a new funding firm in Hackensack to provide money to commercial real estate when traditional funding is unavailable.
“In situations where a traditional source of financing might see obstacles to a loan, we see opportunity,” Jeffrey Wolfer, president and CEO of Silver Arch Capital Partners, said in an announcement. “We are prepared to fund a borrower that other lenders might have turned down. We have the creativity and flexibility to make it work.”
According to the announcement, Wolfer and managing director David Vynerib have a variety of financial resources to draw from, including a strategic partner with a $2.5 billion balance sheet.
“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,” Wolfer said.
Loans range from $5 million to $100 million, with one to three-year terms, and interest rates from 9 percent to 75 percent. According to the announcement, Silver Arch specializes in quick closings on bridge loans to owners, investors and developers.