LOS ANGELES, May 20 /PRNewswire/ -- May 2008 marks the 5-year
anniversary of Lone Oak Fund, LLC, a private mortgage fund making bridge
loans on commercial property throughout California. Since its inception,
Lone Oak has funded over $500,000,000 in loans and this week, announced
that it has dropped its interest rates to as low as 8.9%.
In a market where the vast majority of private lenders are raising
rates, Lone Oak Fund has the strength, flexibility and solid reputation to
do just the opposite. Borrowers can expect 8.9% - 9.9% interest rates from
Lone Oak, depending on the quality of the property, location of the
property and the amount or size of the loan.
Founded in 2003 by Principals Gerald A. Ducot and James A. Rothstein,
Lone Oak has realized steady year-to-year growth in its short history. Over
the past five years, Lone Oak Fund has grown to become the preferred lender
for independent mortgage brokers, bankers, attorneys, accountants, business
managers, community banks and other professionals seeking fast, reliable
bridge financing for their California clients. As the Fund begins its 6th
year, Lone Oak anticipates a record breaking year in 2008 with loan volume
exceeding 00 million.
"Lone Oak has created a niche that serves today's tough financial
climate," said Jerry Ducot. "As a private portfolio lender larger than many
banks, specializing in only bridge financing and only in California, we
have the ability to close loans faster and offer far lower rates than our
competitors."
"With current institutional credit and liquidity restraints, borrowers
may not be able to obtain financing as easily as in the past. Lone Oak is
well positioned to take advantage of these circumstances," added James
Rothstein.
Lone Oak is funded through an exempt private offering with an investor
base of high net worth individuals, pension funds and charitable
foundations. The Fund makes short-term 1st trust deeds on California real
estate for amounts typically ranging from $1 million to $15 million. Loan
terms range from 30 days to 12 months, with extensions of up to an
additional 12 months. As a private lender, Lone Oak is not regulated or
restricted like institutional lenders, so appraisals and tax returns are
not required. In addition, Lone Oak maintains an edge over the competition
by closing most loans within five days. There are no pre-payment penalties
or junk fees.
"Since we opened our doors, Lone Oak has provided unparalleled speed
and flexibility to our California clients, and from the beginning the
response has been positive," said Ducot. Co-founder Rothstein added, "Now
more than ever, Lone Oak is in a position to help current and prospective
clients stabilize their position, obtain financing, and close deals with
the security that they have come to expect."
Lone Oak Fund, LLC is a private mortgage fund licensed as a California
Finance Lender under Dept. of Corporations license number 603B623. It is
organized for the purpose of making bridge loans secured by first trust
deeds on California real estate. The Fund makes commercial, industrial,
apartment, condo conversions, remodeling, special purpose property such as
churches, schools, retirement facilities, and entitled-land loans to
developers, investors and businesses.
Lone Oak does just one thing ... and no lender does it better.
For more information on Lone Oak Fund, go to
http://www.loneoakfund.com.
See Also
- Manage Your Debts Properly with Debt Management Loan
- RICS Puts Forward its Findings and Recommendations on Adaptive Re-use of Industrial Buildings in Hong Kong
- 100% Organized with Cabinet Installation Systems
Source: Real Estate Newswire
0 коментарі:
Post a Comment