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Scottsdale, AZ Real Estate News

By Greg L. Weimer
(Remington Capital, Inc.)
Remington Financial Group is equipped to handle the expedited closings of 30 days or less, which makes it unique in the lending space. Our firm does it by preparing all of the necessary underwriting resources (attorneys, appraisers, etc.) to review and approve a loan very quickly. RFG employs a lower loan to value ratio than a traditional lender might, which allows the firm to recover its investment should the need arise. Also, Remington often times skips traditional underwriting steps, such as evaluating a borrower's credit rating or examining his experience level, as a means to progress the loan more quickly. We require a water tight appraisal of the property that ensures RFG can tolerate the high risk. Also, RFG will always require an appropriate exit strategy. If a borrower can not ...
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By Greg L. Weimer
(Remington Capital, Inc.)
A hard money loan is easily recognized by some distinguishing characteristics, most notably its ability to close quickly. Although a hard money loan typically carries a higher loan to value and more costly rates and fees, borrowers continually turn to this unique loan because most times it can move from start to close in 30 short days. Why would a borrower need to close a loan in 30 days? It turns out there are many reasons that a quick turn around might be necessary. Two examples include: Taking advantage of a low cost propertyA borrower is aware of a piece of available property that is near the site of a soon-to-be-built shopping center. The land owner will sell the property at a lower cost, but only if the deal can close in the next 30 days. By securing a hard money loan, the borrowe...
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By Greg L. Weimer
(Remington Capital, Inc.)
Distinguishing Characteristics A hard money loan is easily recognized by some distinguishing characteristics, most notably its ability to close quickly. Although a hard money loan typically carries a lower loan to value and more costly rates and fees, borrowers continually turn to this unique loan because most times it can move from start to close in 30 short days. Loans often times must close quickly for any number of reasons. Sometimes the timing is a requirement to take advantage of a good price on a commercial property. Other times borrowers must meet fast closing dates in order to avoid foreclosure. Regardless of the reason, hard money is a viable and valuable loan type. It's also important for brokers to understand that a typical hard money loan does not have a pre-payment penalty...
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By Greg L. Weimer
(Remington Capital, Inc.)
Remington Financial is looking to bring its vast skill and expertise in the real estate, construction and development banking sectors into India and to partake in the strong, sustainable growth within one of the most robust real estate and investment markets in history.The entry of Remington Financial Group into the Indian real estate and construction markets gives investors in development and construction projects access to our flexible, creative and responsive finance services. Those services deliver Remington Financial Group's unique and highly developed transaction processes that differ from those of most conventional banks and finance specialists. Remington Financial Group customizes each transaction to benefit the client with our distinctive brand of integrated financing. Our trac...
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By Greg L. Weimer
(Remington Capital, Inc.)
India is experiencing one of the strongest and enduring periods of economic growth and prosperity in the history of the financial markets. Their growth looks to continue unabated well into the next decade. Among the most attractive features for investing in India are numerous long-term investment opportunities that offer strong potential returns with limited downside risk. An influx of foreign capital has fueled a burgeoning middle class and increased land development.
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By Greg L. Weimer
(Remington Capital, Inc.)
There are many reasons Remington Financial Group (RFG) has extended its growth to Mexico. Among these is the proliferation of opportunities for potentially very rewarding long-term investment opportunity with limited risk. For comparable product types, cap rates in Mexico are approximately 200 to 400 basis points above U.S. cap rates. With its increased gross domestic product (GDP) per capita, vibrant economy, and the strength of the peso, investing in Mexico has never looked better. The country's foreign direct investment is at an all-time high. Additionally, Mexico's political climate is more open to investment than ever before. Changes in foreign investment laws, as well as the institutionalization of properties by U.S. Title Insurance companies, are two reasons for increased confide...
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By Greg L. Weimer
(Remington Capital, Inc.)
RFG secures $12,112,000 permanent financing for a 224-unit apartment complex, Pensacola, FL Remington Financial Group, Inc. secured a $12,112,000 non-recourse permanent mortgage to refinance a 224-unit apartment complex in Pensacola , Florida .  The 80% LTV, 10-year fixed mortgage is amortized over 30 years. The principals acquired the property in September 2004, right as Hurricane Ivan hit Pensacola .  Ivan caused substantial damage to a number of the buildings.  After upgrading most of the units, the principals were able to substantially increase rents in 18 months.  In addition, the principals changed the tenant mix that decreased tenant rollover.  Both of these factors greatly increased the cash flow of the property.  RFG, recognizing the added value, was able to structure a loan th...
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RFG CLOSING - secures $5.5 Million non-recourse permanent financing RFG secures $5.5 Million non-recourse permanent financing A long time and repeat borrower of Remington once again selected RFG's permanent financing to refinance its name brand hotel in northern Vermont. RFG competed with the borrower's options and won based on the extremely low rate it was able to secure along with other favorable terms such as low reserves and short time frame to close. This transaction was the seventh property financed by RFG over its long term relationship with the borrower which has been established on the borrower's confidence in RFG's execution and reliability. The financing was structured with a 10 year term, 30 year amortization and a fixed rate of 5.35 percent. Testimonials Remington Financial...
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Remington Financial Group, Inc. - Hard Money Since 1993, Remington Financial Group, Inc. (RFG) has had a successful history of securing hard money capital and financial services to sophisticated real estate owners and developers nationwide. RFG specializes in hard money loans, a higher-risk loan, which is usually based on the quick-sale value of a property. Hard money loans are often issued for financially distressed properties that carry greater risks that most conventional banks are not willing to absorb. RFG issues hard money loans in cases where there is sufficient collateral and a promising business or financial plan. Securing financing for transactions starting at $1 million and moving upward, RFG offers an extensive network of private and public lending partners, dramatically imp...
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By Greg L. Weimer
(Remington Capital, Inc.)
RFG has been around for 16 years and has arranged billions of dollars in closed transactions. We specialize in securing financing for even the most complex transactions, even deals that are currently being rejected by traditional banks. We continue to get transactions financed because of our deeply leveraged relationships with secondary private lenders, and private equity groups. Our expertise provides our clients options not turn downs, if you currently have any transactions that you are having trouble placing, please feel free to contact me anytime to discuss what financial options private money can offer you.   Best wishes for a successful 2009! Don't let the non-lending traditional banks put an end to the options you could have available for you clients.
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By Greg L. Weimer
(Remington Capital, Inc.)
Since its inception 15 years ago, Remington Financial Group (RFG) has increased its presence in the commercial real estate market. The company closed more than $900 million in client transactions in 2006, over $1 billion in 2007 and is on track to exceed that figure for 2008. RFG provides a range of financing solutions including senior debt/equity financing, mezzanine/bridge loan financing, and joint venture (JV) financing. The company is open to providing construction loans, equity debt financing with up to 100 percent financing, hard money, interim bridge financing, up to 100 percent financing for franchises, seed capital, business loans without real estate, business investment capital, and up to 100 percent financing on land development. RFG will consider financing any number of deve...
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By Greg L. Weimer
(Remington Capital, Inc.)
1. Submit Business Plan / Executive Summary 2. Pre-qualification determination process - project is reviewed and evaluatedresulting in: - the project being accepted- proposed revisions being issued for the project- the project being declined 3. Lender / Investor conceptual interest is obtained along with projected termsand the propsal is issued 4. Due-Diligence document checklist of typically requested data is prepared andsent to client 5. Analysis of all documents, preparation and packaging of the data forsubmission to designated lender/investor; formal due-diligence commences 6. Term Sheet/Conditional Commitment and/or Firm Commitment issued 7. After Term Sheet/Conditional Commitment and/or Firm Commitment areaccepted, a site visit and market analysis will commence 8. Closing / Capita...
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By Greg L. Weimer
(Remington Capital, Inc.)
A joint venture is a partnership between a company that has a project and an investor. The company supplies the deal and the management investor supplies the money. The percentages of ownership are negotiable.
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By Greg L. Weimer
(Remington Capital, Inc.)
$16 MM - Luxury Hotel, Acquisition / Development Financing - Mexico$40 MM - Land Acquisition, Acquisition / Development Financing - Mexico$15 MM - 600 Unit Planned Residential Land, Development Community - Mexico$9.5 MM - Luxury Condos, Construction Financing, 85% LTC 30% presold - Costa Rica$1.2 MM - Apartment Complex in Prince Edward Island, Acquisition Financing, 85% LTC - Canada MEXICO - RemingtonFinancialMexico.comThere are many reasons Remington Financial Group (RFG) has extended its growth to Mexico. Among these is the proliferation of opportunities for potentially very rewarding long-term investment opportunity with limited risk. For comparable product types, cap rates in Mexico are approximately 200 to 400 basis points above U.S. cap rates. With its increased gross domestic pro...
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By Greg L. Weimer
(Remington Capital, Inc.)
$138 MM - Manufacturing Portfolio, Debt/Bridge Equity $140 MM - Debt/Mezzanine Portfolio Acquisition - MO $75.8 MM - Student Housing Complex, Construction & Permanent Financing - PA $17.1 MM - Student Housing Complex, Bridge Financing - KY $15.4 - 6 Rehabilitation Centers, Permanent Financing - Various Locations, PA $7.5 MM - 10 Plex Movie Theater & Retail Plaza, Acquisition Financing - FL $3.3 MM - Credit Tenant Ground Lease - PA $1.1 MM - Mobile Home Park, Acquisition Financing, 80% LTC $12 MM - Raw Land, Refinance, 40% LTV $7.6 MM - Assisted Living Facility, Senior Construction Financing - IL $23 MM - Assisted Living Community, Construction Financing - IL
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By Greg L. Weimer
(Remington Capital, Inc.)
$2.8 MM - Development Company, Equity/Debt Financing - NJ $1 MM - Hotel, Development Site - NV $4.7 MM - 600 Unit Planned Residential Land Development Community, Participating Acquisition & Development Financing - MD $1.25 MM - Residential Community, Equity/Debt Acquisition & Development Financing - NC $8 MM - 600 Acre Residential Master Planned Community, Equity/Debt Financing - CA $11.25 MM - Golf Course Fronting 128 Unit Luxury Townhouse Community, Equity/Debt Acquisition & Development Financing - NJ $7.25 MM - Residential & Golf Course Community, Equity/Debt Acquisition & Development Financing - NC $12.5 MM - 10 Acre Parcel slated for Multi-Family and Retail Development, Pre-development Land Financing - PA
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By Greg L. Weimer
(Remington Capital, Inc.)
$42 MM - Luxury Apartment Building, Construction Financing - PA $50 MM - Acquisition of 735 Apartment Units 2 Deals $1 MM Equity Raised + Senior Debt - FL $1 MM - Apartment Complex, Bridge Financing - NY $6.75 MM - Apartment Complex, Acquisition & Rehabilitation Financing - FL $6.8 MM - Apartment Complex, Permanent Mortgage Financing - NY $7.5 MM - Apartment Complex, Interim & Bridge Financing - DC $27 MM - Luxury Apartment Complex, Permanent Mortgage Financing - PA $7.2 MM - Apartment Complex, Interim & Bridge Financing - DC $20 MM - Apartment Complex Acquisition, Advisory Services $3.75 MM - Apartment Complex, Permanent / Acquisition Financing - TX $2.4 MM - Title Equity Raise, 1000 Unit Apartment Complex Purchase - FL $56 MM - Apartment Complex Acquisition, Investment Banking, Adviso...
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By Greg L. Weimer
(Remington Capital, Inc.)
$22 MM - Retail Center, Acquisition Financing - LA $6 MM- Retail Center, Acquisition Financing $11.5 MM - Retail Center, Permanent Refinance - FL $9 MM - Retail Center, Bridge Financing - MD $5.6 MM - Retail Center, Permanent Financing - PA $4.7 MM - Retail/Office Building, Refinance - PA $5.2 MM- Retail Center, Acquisition Financing - IN $1.75 MM- Retail Center, Acquisition Financing - TX $5.6 MM - Retail Center, Refinance - PA $2.2 MM - Retail Center, 1st Mortgage Permanent Financing, Acquisition Financing $4 MM - Fully Occupied Retail Center, 1st Mortgage Refinance, Permanent Mortgage
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By Greg L. Weimer
(Remington Capital, Inc.)
$64.5 MM - Microcomputer Component Manufacturer, Bankruptcy Reorganization Financing - NY $5 MM - Auto Parts Manufacturer, Joint Venture Acquisition Financing - NJ $18.5 MM - Discount Retail Chain, Equity/Debt Financing Bankruptcy Organization - MA $80 MM - Cruise line, Acquisition & Start-up Financing - NJ $2.5 MM - Medical Services Company, Early Stage Working Capital Financing - NY $6 MM - Telecommunications Company, Equity Financing - NY $4 MM - Wireless Tracking Device Manufacturer, Expansion & Start-up Working Capital - MA $3 MM - Broad Form Application Service Provider, Early Stage Bridge Financing - NY $.25 MM - Online Travel and Hotel Reservation Website Company, Bridge Financing - CA $2.2 MM - Recycling Company, Bridge Financing & Secured Line of Credit - PA $.5 MM - Software ...
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