Remington Capital, a Scottsdale, Ariz.-based commercial real estate lender and consulting firm, is adding staff in anticipation of increased demand.
Company chairman Andy Bogdanoff said there is more than $1 trillion in CRE debt due to mature in 2013, and there are signs that the lending market is thawing.
Plans call for Remington to add 14 account executives to its sales staff and additional analysts to the company's Advisory Services Group by the end of the first quarter of 2011. "We are expanding staff to make sure each of our commercial loan brokers and their clients receives optimal service every step of the way in our financing process," Bogdanoff said.
Remington provides access to a global network of nearly 700 lenders and investors, about 70% of which are alternative sources of capital.
Remington is also expanding its presence outside the U.S. Specializing in international projects of $5 million or more, the company has already secured financing for projects in Mexico, Costa Rica and Canada. "So optimistic are we about the prospects in Mexico that we opened a regional office in Sonora," Bogdanoff said.
"More recently, we opened an office in Australia and have begun exploring impressive growth opportunities for commercial real estate and corporate finance projects in India and elsewhere in the world."
