NEW YORK, Feb. 25, 2015 /PRNewswire/ -- Trevian Capital, a direct lender that provides flexible and reliable short-term bridge loans for commercial real estate opportunities nationwide, is targeting $200 million in volume for 2015. Trevian Capital launched in January 2013 to fill a void in the special situation bridge lending space.
"This part of the commercial real estate debt market is regional and fragmented with most lenders focusing on the coasts, specifically New York, the northeast, Florida, Texas, California and the Pacific Northwest," explains the firm's founder, Michael Hoffenberg. "There lacks a true nationwide lender serving those markets east of the Rockies and outside of the northeast who is both transparent and institutional in scope yet able to maintain the flexibility and speed of a boutique firm. In launching Trevian Capital, we set out to fill that void. Of course having said that, with offices in New York and Chicago, we lend in our own backyards too."
Trevian Capital provides first-lien position bridge loans for terms of six months to two years, with rates starting at 9%, for deals that feature one of all of the following characteristics: (i) A time-of-the-essence closing (30 days or less); (ii) a transitional or distressed borrower; and/or (iii) a transitional or value-add asset. Having funded approximately $150 million in loans during what Hoffenberg called its "ramp-up" period, Trevian Capital is at full speed and is poised to capitalize on the impending wave of special situations that is anticipated as the 2005, 2006, and 2007 vintage loans mature over the next three years.
"We are targeting $200 million in originations in 2015," says Hoffenberg, "but that is by no means a hard cap. We have the capacity for much more."
Trevian Capital (www.treviancap.com) provides flexible, reliable and timely first-mortgage bridge loans to the commercial real estate industry nationwide, with a focus on the $2 million — $50+ million plus middle market. Trevian Capital lends to borrowers whose needs do not meet conventional timing and/or underwriting guidelines. Trevian Capital specializes in non-traditional financing where expertise, local knowledge and attention to special circumstances are critical.
With roots in Chicago and New York, Trevian Capital lends nationwide.
Contact: Michael Hoffenberg (212) 376-5636; email@example.com
SOURCE Trevian Capital