LOS ANGELES—The largest initial public offering of anyCalifornia company in 2014, Lending Club's $865-million stockmarket debut earlier this month gave it a valuation of $8.5billion, putting it ahead of all but 14 US banks. At the moment,such a bullish entrance for an online lender could occur only inthe consumer segment, but Realty Mogul'sJillene Helman thinks commercial real estate is upnext.
The key ingredient in online lending's secretsauce is big data, and the Realty Mogul CEO tellsGlobeSt.com the speed and flexibility that automated technologyprovide make it especially apt for this sector. Helman, whose LosAngeles-based company recently signed a $73-million deal withDirect Lending Investments in which the hedge fundwill exclusively provide loans to fix-and-flippers through theplatform, recently sat down with GlobeSt.com to chart theadvantages online lenders can offer compared to traditionalbanks.
GlobeSt.com: What makes commercial real estate aprime area for a more automated approach as far as lending isconcerned?
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
