FirstKey Lending LLC is offering loans of $5 million or less to help investors acquire new one-to-four family residential rental properties or refinance existing debt in the small-balance loan market.
The Cerberus Capital Management-backed company is specifically targeting investors in this market with five or more of these types of properties.
Investors with rental property portfolios under $5 million represent the largest segment of the market but have historically had limited access to capital, First Key CEO Randy Reiff said in a press release Monday.
The FirstKey Lending Express loans are typically nonrecourse and designed to be more competitive in terms of rates and terms than other existing
Reiff, who previously headed the global commercial mortgage-backed securities and commercial mortgage finance business in Macquarie’s fixed-income division, has been with FirstKey since October. He also previously
