RealtyMogul.com in Los Angeles said it reached agreements for a total of $250 million in capital, which it will use to offer new products.
The marketplace lender said it
One product is a three- to five-year, floating-rate bridge loan in the 4% to 6% range. The other product is a fixed-rate program, priced in the 4% range that follows the standards of the commercial mortgage-backed security market.
"This is the first time an online marketplace is able to offer a competitively priced CMBS loan," Jilliene Helman, chief executive, said in a news release.
RealtyMogul.com is a marketplace lender for real estate that provides mortgages through crowdfunded capital.
