On behalf a Philadelphia headquartered national apartment owner, Remington Financial Group, Inc. secured $5,800,000 senior financing to refinance and renovate a 103-unit apartment building in Washington, DC. Shortly after the property was acquired, the owner attempted to convert it to condominiums. However, after battling two and a half years of tenant-initiated legal opposition, and a subsequent failed disposition attempt, the decision to keep the property and reposition as a rental was made. When Remington was engaged, the property was 50 ... Read More

Remington Financial Group, Inc. secured an $11,500,000 non-recourse permanent mortgage fixed rate financing for a retail center in Sunrise, Florida. The most attractive feature of the financing was a 5.11 percent interest rate that was fixed for 10 years and amortized over 30 years. The loan refinanced the center’s existing higher rate mortgage. The property is a non-grocery anchored strip center built in 1987 that housed local tenants including an eight screen independent movie theater. In a rising interest rate environment, many savvy ... Read More

One of the largest franchised hotel owners for an international hotel group engaged Remington to secure financing for its portfolio of 2200 hotel rooms located in Orlando, FL. However, the challenges to complete the financing appeared insurmountable. The aging properties had lost their competitive edge to new hotels being developed in their market place and as a result slipped into bankruptcy. The second challenge was that they properties had approximately $100MM in first mortgage debt and where worth about $70MM. Just to add a bit more ... Read More

A NJ based manufacturer engaged Remington to restructure its existing defaulted financing and refundingize the company’s operations. The 40 year old company, housed in its 90,000 square foot office/manufacturing facility, had a long track record of generating profits. Three years ago it lost several top customers to competitors and as a result began to lose money, which put its bank financing in default. Remington provided the company with a full range of financing options to correct its problems. The sale leaseback option was chosen as ... Read More

An Atlanta based real estate owner turned to Remington to secure mezzanine financing for its class A retail property located in Buckhead Georgia. Based on the quality of the property and its rent roll, the borrower had numerous mezzanine options from which to chose. It ultimately chose to close with financing provided through the mezzanine program of one of Remington’s lenders. The lender’s willingness to provide higher leverage – 97percent LTV, more flexible terms, lower rate certainty and speed to closing over its competitors ... Read More

A long time and repeat borrower of Remington once again selected Remington’s permanent financing to refinance its name brand hotel in northern Vermont. Remington competed with the borrower’s options and won based on the extremely low rate it was able to secure along with other favorable terms such as low reserves and short time frame to close. This transaction was the seventh property financed by Remington over its long term relationship with the borrower which has been established on the borrower’s confidence in ... Read More

Remington, through its small loan program, originated acquisition financing to complete the purchase of a retail property in Raleigh, North Carolina. The principal, aware of Remington’s reputation to secure financing for extremely challenging transactions, engaged Remington to secure financing for their first commercial investment property. The borrower had no experience, below average credit and very little net worth. However, it had a sales contract on a solid real estate property at an attractive purchase price. Remington was able to ... Read More

An Ohio based developer engaged Remington to secure mezzanine financing to compliment its senior financing, which did not provide enough leverage to complete needed improvements to a medical office building. The developer recently purchased the building located in Dayton Ohio with substantial below market occupancy caused by prior ownership’s mismanagement. A quick closing required the developer to utilize a short term low leverage acquisition bridge loan. The developer required additional funding to make improvements to the property to ... Read More

A New Jersey based home builder sought to diversify its real estate holdings with income producing real estate. However, most of their funding was tied up in home construction and lot inventory and as a result did not have sufficient equity to acquire new real estate. What they did have was a contract of sale on a property. The builder, aware of Remington and its lending capabilities, engaged the company to coordinate the equity and debt in order to secure 100 percent financing to acquire the apartment complex in Wilmington, DE. Remington was ... Read More