NEW YORK, Dec. 16, 2013 /PRNewswire/ -- FirstKey Lending, LLC, a lender that specializes in providing financing to investors in one- to four-family residential rental properties, has recently launched the FirstKey Lending Express lending program. This program is specifically tailored to serve investors seeking loans of $5 million or less to acquire new properties or to refinance their existing debt. FirstKey Lending Express offers investors with five or more one- to four-family rental properties a fast, efficient source of financing and a streamlined closing process.
"The FirstKey Lending Express program is specifically designed to meet the unique needs of investors looking to borrow up to $5 million for their rental portfolios," said Randy Reiff, Chief Executive Officer of FirstKey Lending, LLC. "Investors with rental property portfolios under $5 million represent the largest segment of this market, yet they have historically had limited access to capital. We are pleased to introduce the FirstKey Lending Express program to these historically underserved investors."
Loans offered under the FirstKey Lending Express program are typically non-recourse, with substantially lower rates and superior terms than existing small-balance commercial loan products.
Randy Reiff joined FirstKey Lending in October 2013 after heading the global CMBS and Commercial Mortgage Finance business at Macquarie's Fixed Income Division. He previously headed the Global Commercial Mortgage and CMBS businesses for J.P. Morgan and Bear Stearns.
About FirstKey Lending, LLC
FirstKey Lending, LLC is a licensed commercial real estate lender to investors of tenant-occupied residential properties. Backed by Cerberus Capital Management, L.P., one of the world's leading private investment firms, FirstKey Lending provides loans of $1 million to $100 million across a variety of loan products. Through a team of professionals with decades of experience at leading financial institutions, FirstKey Lending has the strength and stability to provide a wide range of real estate financing products for all sectors of the industry.
For information about FirstKey Lending Express:
Bill Ruiz or Scott SanFillippo
FirstKey Lending, LLC
SOURCE FirstKey Lending, LLC