NYC-Based Real Estate Bridge Lender Layla Capital Closes Loans in NY and NJ
Layla Capital’s advanced lending platform provides real estate owners and developers with loans from $500,000 to $10,000,000 for a range of asset classes at highly competitive interest rates, and with quick turnaround. Brokers are always fully protected.
Layla Capital, a New York City-based private and direct commercial real estate bridge lender that focuses on opportunities in the Northeast and greater East Coast, announced today that it has capped off a strong 2018 first quarter with two recent loan closings totaling $1.68 million in New Jersey and New York, respectively.
For a $900,000 loan in Allenhurst, NJ, Layla Capital offered the borrower the flexibility of an initial 12-month term at a competitive single-digit interest rate, with the option of an additional extension. The loan proceeds are being used as working capital to support the borrower’s business expansion in New York City.
Following their success in Allenhurst, Layla Capital closed a $780,000 loan in Brooklyn, NY. The company offered the borrower the flexibility of an initial 12-month term at a competitive single-digit interest rate, with the option of an additional extension. The loan proceeds are being used by the borrower to refinance existing bank debt, provide working capital for the final phase of a multifamily property conversion (addition of another unit), and consolidate personal debt.
At the end of each respective loan term, both borrowers plan on leveraging their stronger financial position to refinance quickly and easily with a conventional bank or other traditional lending sources.
“The strong growth that we experienced throughout 2017 has carried into 2018, and we expect this year to be our best ever with respect to both the number and value of loan closings,” commented Layla Capital’s founder and CEO Justin Cooper. “We have a robust pipeline and have issued several term sheets over the last week. The key factors that continue to drive our success – and which were on full display with our recent engagements in Allenhurst and Brooklyn — include our rapid turnaround, flexibility, creativity, and ability to make the lending process easy and straightforward for borrowers.”
More information on Layla Capital is available at https://www.laylacapital.com, or by calling (212) 600-2272. The company’s office is located at 575 Lexington Avenue, 4th Floor, New York, NY 10022.
Prospective borrowers will also find an overview of Layla Capital’s lending criteria and a secure online application form on the company’s website.
About Layla Capital
Layla Capital is a New York City-based direct bridge lender focused on small to middle market debt opportunities along the East Coast with a focus in the Northeast. Loans range from $500,000 to $10,000,000 at competitive interest rates, and with quick turnaround. In addition to lending against single family investment properties, Layla Capital also lends on multifamily, mixed-use, office, retail, and industrial properties, among other types. Learn more at https://www.laylacapital.com.