LOS ANGELES—AssetAvenue, an online fundingplatform that matches investors, brokers, borrowers and lenderstogether, has closed $13.3 million in deals this past week. Thetransactions funded acquisitions, rehabilitations and refinancesfor four commercial real estate properties. The loan sizes rangedin value from $475,000 to $5 million.

|

“This points to AssetAvenue's value proposition on both thesupply and demand side of our platform,” ChrisGanan, president of institutional investments atAssetAvenue, tells GlobeSt.com. “On the supply side, our focus onsmall balance, $20 million and less, senior secured loans reallybrings a unique subset of capital to an underserved portion of themarket. On the demand side, we really provide a fixed-income yieldin a transparent manner; our volume thus far demonstrates the trustour diverse ecosystem of capital has placed in our ability tounderwrite and price risk.”

|

The platform focuses on bridge and transitional loans acrossproperty types. The four properties to receive these funds includean office property in Los Angeles, amultifamily property in Los Angeles, an officeproperty in San Francisco and a mixed-use complexin Brooklyn, NY. AssetAvenue is extremely pleased with its year-endresults, which have exceeded expectations. “When we raised our $3million seed round this summer, we thought that $10mm by year-endwould have been an unbelievable goal,” says Ganan. “We have beenpleasantly surprised by how quickly both sides of our ecosystemhave adopted our model, and obviously, we're well beyond that goal,and looking forward to a very big 2015.”

|

Although three of the loans in this group were for properties inCalifornia, AssetAvenue is a national platform that funds loans fora range of property and investor types all over the country. Sincelaunching this year, the company has funded loans inTexas, New York, Illinois, Oregon and California. Ganan adds, “Wework with a myriad of important partners—brokers, borrowers, and avariety of other lenders to finance loans through our platform. Wework with smaller private moneylenders and provide them access toan incredibly diverse investor base. Similarly, we work with largerprivate moneylenders that previously funded loans within a specificbox but now have access to our diverse capital. We work withCMBS originators, banks, and specialty financecompanies that refer us properties going through transition so wecan finance them on a short-term basis.”

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.