NOVATO, California, September 1, 2020 / PRNewswire / – Pacific Private Money, Inc. (PPM), an institutional-grade private lender specializing in real estate-backed loans for west coast borrowers, has announced the closure of a $ 100 million securitization with Category Saluda Asset Management (“SGAM”). The transaction was closed on July 30e and consists of residential and commercial bridging loans issued and managed by the San Francisco Bay Area private lender.
Category Saluda, as asset manager for the transaction, will use the two-year renewal period of the agreement to reinvest loan repayments into new loans.
“By providing institutional capital to fuel loan production, injecting equity capital to accelerate growth, and finally by purchasing and titling the origins of PPM, we have fulfilled our mission to provide a leading advisory and management company of assets vertically integrated into the alternative lending sector ”, said Founder of Saluda Grade, Ryan craft.
Securitization, a first for PPM, is following an impressive growth cycle. Through its partnership with Saluda Grade Advisory, PPM increased loan origination by more than 40% and called on institutional capital partners. “Our partnership with Category Saluda has provided the capital and liquidity that we have long sought to enable us to realize our vision and mission to become a recognized leader in alternative real estate finance, ”said the Founder and CEO of Pacific Private Money. Mark Hanf.
Saluda Grade Alternative Lending & Fintech Growth Fund I LP is a minority owner of Pacific Private Money.
About Pacific Private Money
Founded following the Great Financial Crisis in 2008, Pacific Private Money (PPM) is one of the most respected and fastest growing companies in the private capital market and has established itself as the market leader individuals and real estate investors. ready everywhere California. PPM offers transitional bridging loans, construction loans, commercial and non-owner occupied acquisition and rehabilitation loans. Since its creation, PPM has taken out more than 1,700 loans and deployed more than $ 750 million in capital.
On Category Saluda
Founded in 2019, Category Saluda is a real estate consultancy and asset management company specializing in the sector of “non-bank” alternative loans. Saluda Grade Asset Management manages debt funds investing in transitional mortgage loans and distressed securitized product assets. Saluda Grade Advisory advises small and medium-sized lenders seeking institutional capital markets expertise and providing institutional capital to private lenders. Saluda Grade Ventures, the equity investment arm of the company, currently manages two private funds.
With offices in new York and San Francisco, the company is driven by a primary mission of identifying alternative lending sectors that need institutional capital to fuel growth. Its management team has over 85 years of combined experience in mortgage and securitized credit. The company maintains close relationships with private lenders and capital providers which enable it to Category Saluda bring attractive assets to institutional investors.
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SOURCE Pacific Private Money Inc.