Gary Bechtel is the presient of Money360.
Direct lender Money360 closed $170 million in commercial loans in July and August, bringing the firm close to closing $500 million in loans so far this year. The My360 communication portal, which launched earlier this year, helped to boost the firm's activity.
The $170 million was the accumulation of six loans ranging in size from $27.5 million to $11.3 million. The largest two loans were a $27.5 million bridge loan for an industrial business park property in Cedar Park, TX; and a $21.4 million bridge loan for a suburban office property in Frisco, TX.
The activity occurred across a wide range of asset classes, illustrating investment demand in all sectors.
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