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March 17, 2008
- Business Wire
San Francisco, March 17, 2008: In a move that broadens the availability of commercial real estate (CRE) lending options and portfolio advisory services for banks across the nation, Bridger Commercial Funding recently introduced a new suite of CRE loan programs and created an asset management services group.
Bridger’s new secondary market loan programs address the unique borrowing requirements of multifamily property owners, and borrowers with owner-occupied or single-tenant commercial properties. Banks can now earn non-interest income by originating secondary market loans on almost any type of commercial property through Bridger.
In announcing the company’s latest additions to its lineup of CRE financing programs, Bridger CEO Robert Schonefeld noted that providing various secondary market lending alternatives in today’s tighter credit environment helps fill a major void for banks. “For nearly 10 years, Bridger has provided banks nationwide with lending options to originate long-term, fixed rate, non-recourse financing on income-producing properties. Now, we can help banks capture more business by providing loan programs covering additional property types that offer an array of maturity options, amortization alternatives, and flexible structures.” Mr. Schonefeld further added that “now, Bridger truly provides a one-stop shop for banks and their borrowers seeking longer term financing on commercial properties.”
Bridger’s existing BankXchange loan sale program, coupled with the firm’s new Asset Management Advisory Service, completes the company’s offerings by providing a variety of balance sheet and asset management services to address any bank’s risk mitigation needs. Mr. Schonefeld added that “while the world's largest banks are still staggering from the meltdown in the mortgage market, many other banks are feeling CRE pressure due to existing construction and real estate loans on their balance sheets. This is the time for bank’s to optimize the value of their CRE loan portfolio, and Bridger can provide the expertise necessary to help them achieve this objective.”
For further information on Bridger’s loan programs or advisory services, please contact Peter Grabell, Executive Vice President, at 415-289-3259 or pgrabell@bridgerfunding.com.
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Bridger Commercial Funding offers an array of commercial real estate loans that help banks generate fee income, enhance borrower relationships, and optimize commercial real estate portfolio risk/return profiles. The company also acts as an advisor for loan trading and asset management services.
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