NOVATO, Calif., Sept. 1, 2020 /PRNewswire/ — Pacific Private Money, Inc. (PPM), an institutional-grade private money lender specializing in real estate-backed loans for West Coast borrowers, announced it has closed a $100 million dollar securitization with Saluda Grade Asset Management («SGAM»). The transaction closed on July 30th and is composed of residential and commercial bridge loans originated and serviced by the San Francisco Bay Area private lender.
Saluda Grade, as the asset manager for the transaction, will utilize the two-year revolving period in the deal to reinvest loan payoffs into new loans.
«In delivering institutional capital to fuel loan production, injecting equity capital to accelerate growth, and finally purchasing and securitizing PPM’s originations, we’ve delivered on our mission to provide a vertically integrated advisory and asset management leader to the alternative lending sector,» said Saluda Grade Founder, Ryan Craft.
The securitization, a first for PPM, follows an impressive growth cycle. Through its partnership with Saluda Grade Advisory, PPM grew loan originations by over 40 percent and brought on institutional capital partners. «Our partnership with Saluda Grade has provided the capital and liquidity we have long sought to enable us to realize our vision and mission to become a proven leader in the alternative real estate finance space,» said Pacific Private Money founder and CEO Mark Hanf.
Saluda Grade Alternative Lending & Fintech Growth Fund I LP is a minority owner in Pacific Private Money.
About Pacific Private Money
Founded in the wake of 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 space and has established itself as the market leader for private consumer and real estate investor loans throughout California. PPM offers transitional bridge loans, ground-up construction, commercial and non-owner occupied acquisition and rehab loans. Since formation, PPM has written over 1,700 loans and deployed more than $750 million in capital.
About Saluda Grade
Founded in 2019, Saluda Grade is a boutique real estate advisory and asset management firm focused on the alternative «non-bank» lending sector. Saluda Grade Asset Management manages debt funds investing in transitional mortgage loans and distressed securitized product assets. Saluda Grade Advisory advises small to mid-sized lenders seeking institutional capital markets expertise and delivering institutional capital to private lenders. Saluda Grade Ventures, the firm’s equity investment arm, currently manages two private funds.
With offices in New York and San Francisco, the company is driven by a core mission to identify alternative lending sectors needing institutional capital to fuel growth. Its management team has more than 85 years of combined experience in the mortgage and securitized credit space. The firm has deep relationships with both private lenders and capital providers that allow Saluda Grade to bring attractive assets to institutional investors.
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SOURCE Pacific Private Money Inc.