Verus Mortgage Capital, a finance firm specializing in non-qualified mortgages, has launched a new division to serve self-storage and other commercial real estate sectors. Verus Commercial Real Estate Finance (VCREF) will be managed by co-presidents Ricardo Koenigsberger and Kenneth Witkin, with Anthony Iervolino as managing director, according to a press release.

Through this new division, the firm will pursue “origination opportunities in commercial real estate credit,” focusing on bridge loans for acquisitions, discounted payoffs, lease-up stabilizations, refinancing and restructurings, and other special situations. VCREF will also offer other financial products such as commercial mortgage-backed securities loans, mezzanine loans, preferred equity and senior loans.

In addition to self-storage, capital will be available to condo inventory, hotels/hospitality, industrial, investment properties, luxury residential, mixed-use, mobile-home parks, multi-family, offices, parking and retail, the release stated.

Founded in 2015 and based in Washington, D.C., Verus Mortgage Capital provides alternative-lending solutions through its partnerships with more than 100 correspondent lenders. Backed by Invictus Capital Partners, the company has purchased nearly $5 billion in non-agency loans to date, including owner-occupied (consumer) and investor (business-purpose) loans.

Source:

Mortgage Professional America, Non-QM Investor Launches Commercial Real Estate Division



Source Google News