CORRECTING and REPLACING RealtyMogul Sells Proprietary Loan Underwriting Software to Hunt Real Estate Capital in All Cash Deal
LOS ANGELES--(BUSINESS WIRE)--Feb 25, 2019--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
REALTYMOGUL SELLS PROPRIETARY LOAN UNDERWRITING SOFTWARE TO HUNT REAL ESTATE CAPITAL IN ALL CASH DEAL
RealtyMogul announced today that it sold its proprietary loan underwriting software to Hunt Real Estate Capital who plans to deploy the tool across its commercial real estate lending businesses.
RealtyMogul, best known for their real estate crowdfunding platform www.realtymogul.com, was founded six years ago and has invested in over $2 billion of real estate, returning over $100 million to investors to date. The software was built as part of their research and development lab.
“We are excited to implement this proprietary loan underwriting software that Realty Mogul has developed and continue to build our commercial real estate lending business,” said Tyler Griffin, Hunt Real Estate Capital’s Chief Operating Officer.
“We have always prided ourselves on building cutting edge technology at RealtyMogul. We learn an incredible amount about what markets to invest in and what specific properties to invest in because of our technology. We are thrilled Hunt is going to deploy it to an even larger piece of the commercial real estate market with their lending business,” said Jilliene Helman, RealtyMogul’s CEO.
The transaction was an all-cash transaction. Additional financial terms of the deal were not disclosed .
ABOUT HUNT REAL ESTATE CAPITAL
Hunt Real Estate Capital, a subsidiary of Hunt Companies, Inc., is a leader in financing commercial real estate throughout the United States. The Company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, industrial, and self-storage facilities. It offers Fannie Mae, Freddie Mac, FHA financing and its own proprietary loan products. Since inception, the Company has structured more than $28.4 billion of loans and today maintains a servicing portfolio of more than $15 billion. Headquartered in New York City, Hunt Real Estate Capital has 241 professionals in 23 locations throughout the United States. To learn more, visit https://huntrealestatecapital.com/.
RealtyMogul is a unique commercial real estate private markets investing platform that provides discerning investors exclusive access to thoroughly vetted opportunities, rigorous underwriting, and high-touch customer service through licensed investment professionals. RealtyMogul strives to build wealth through sound principles and data insights, serving real people who want a smart alternative investing strategy.
RealtyMogul offers capital financing opportunities to qualified real estate companies, and through rigorous vetting is able to hand-select opportunities for discerning investors. RealtyMogul offers securities through North Capital Private Securities Corporation, member FINRA / SIPC.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190225005811/en/
CONTACT: RealtyMogul Contact
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
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PUB: 02/25/2019 08:53 PM/DISC: 02/25/2019 08:53 PM