About Remington Financial Group, Inc.
For the past 15 years, Remington Financial Group has successfully provided capital and financial services to experienced real estate owners and developers nationwide.
Remington's success is built upon well-established relationships with highly regarded domestic and foreign based capital sources (both private and institutional). Our vast lender network, combined with market expertise and a highly disciplined due diligence and transaction process, means clients benefit from integrated, seamless financing.
Remington works to provide customers with a clear picture of the status of their transaction, as well as any fees associated with the transaction throughout the due diligence process. We work proactively to identify and overcome challenges before they become barriers to a successful close.
Remington Financial Group offers a variety of creative financing options with highly competitive rates for conventional financing, bridge loans, construction loans and hard-money loans while delivering exceptional service throughout the financing process.
Representing clients exclusively, Remington carefully manages the formation of all capital levels so they are structured and tailored for each individual transaction. This process saves clients both money and time while greatly reducing transaction risk. Where other sources were unable to execute at all, RFG has repeatedly delivered refined capital solutions to complex transactions.
Remington Financial Group, Inc. - Recent Case Study
Mezzanine Loan: Recent $2.5 Million Closing Illustrates Flexibility and Speed
An Ohio based developer turned to RFG in order to secure mezzanine financing to compliment its senior financing. The existing senior financing did not provide enough leverage to complete needed improvements to a medical office building, hence the need for the mezzanine round. The developer had recently purchased a building in Dayton that had substantial below market occupancy because of the prior ownership's mismanagement.
In order to move toward a quick closing, the developer to utilize a short term low leverage acquisition bridge loan. The developer required additional capital to make improvements to the property to attract tenants. The demands of the transaction required an entrepreneurial mezzanine lender that could quickly and easily understand the market and share the developer's conviction with the overall opportunity.
Most formulaic mezzanine lenders were not willing to absorb the deal's lease-up and market risks combined with the added risk of relatively high priced debt in the senior position. RFG, on the other hand, partnered with the developer to create a finely tuned sense of the market and felt comfortable with the property's projected lease-up. As a result, it was able to articulate the deal and its risks efficiently to its investor and delivered a $1.5MM mezzanine loan in approximately 10 days.
Just after closing, the developer secured a lease and required additional capital to continue with building improvements. RFG delivered another $1MM within a month after the first closing by simply adding to the principal balance of the original mezzanine loan. Based on the developer's satisfaction with Remington's execution of the mezzanine loan assignment, it awarded RFG the senior mortgage refinancing.
Remington Financial Group, Inc. - Recent Corporate Closings
$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 Company, Equity Capital - PA
$1.2 MM - Retail Chain Stores, Working Capital Financing - NJ
$.5 MM - Discount Company, Equity Investment & Revolving Credit Facility
Financing - MA
$.45 MM - Image Systems, Venture Capital Investment & Working Capital - DC
$7.5 MM - Recycling Corporation, Equity / Dept Working Capital Financing - CA
Remington Financial Group, Inc. - Who We Are
For the past 15 years, Remington Financial Group has successfully provided capital and financial services to experienced real estate owners and developers nationwide.
Remington's success is built upon well-established relationships with highly regarded domestic and foreign based capital sources (both private and institutional). Our vast lender network, combined with market expertise and a highly disciplined due diligence and transaction process, means clients benefit from integrated, seamless financing.
Remington works to provide customers with a clear picture of the status of their transaction, as well as any fees associated with the transaction throughout the due diligence process. We work proactively to identify and overcome challenges before they become barriers to a successful close.
Remington Financial Group offers a variety of creative financing options with highly competitive rates for conventional financing, bridge loans, construction loans and hard-money loans while delivering exceptional service throughout the financing process.
Representing clients exclusively, Remington carefully manages the formation of all capital levels so they are structured and tailored for each individual transaction. This process saves clients both money and time while greatly reducing transaction risk. Where other sources were unable to execute at all, RFG has repeatedly delivered refined capital solutions to complex transactions.
Remington Financial Group, Inc. - Advanced Advisory Services
RFG's expertise and market knowledge can help revitalize existing deals that may be at risk. Our firm's Advisory Services, as well as our comprehensive Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.
Remington Financial Group's expert Advisory Services help clients carefully review and redesign transactions that may have existing financing challenges. RFG's team develops advanced strategies to create new and alternative financing opportunities that can help supplement or replace conventional lending sources.
Remington's borrowers gain the advantage of a comprehensive perspective from which to choose the widest range of financing products available because of the firm's access to the latest and most competitive capital sources on the market.
Remington Financial Group can also make introductions to capital sources that can meet the unique demands of specialty and challenging transactions. Companies that are currently restructuring or emerging from bankruptcy and are in need of recapitalization, or considering expansion through leveraged acquisition, will greatly benefit from our experience and insightful guidance through complex transactions.
Remington Financial Group - Testimonials
Remington Financial Group in an unsettled market is consistent and stable. Their unprecedented Analysis, Service, Commitment and Communication are what sets them apart. When the recent market is doom and gloom all they want to know is "HOW CAN WE HELP". Whether it be an Investment Opportunity, International Development, or a Challenging Problem, Remington Financial Group stays committed to finding Creative Competitive Financial Solutions.
Thanks RFG for your great communication and constant commitment.
- R. Ramsey II
If issues arise with a transaction, RFG always puts forth great effort to recognize it, and immediately responds to our clients with solutions. RFG's servicing of commercial loans and requests during Due Diligence is the fastest I've ever seen. RFG uncovers the true merit of the deal and creates options for financing that traditional sources cannot.
- J. Medlock
When dealing with financial transactions, you need a company that has a proven track record, cares about their clients and understands the importance of each project. RFG not only possess these traits, they also provide many other attributes that make their organization one of the best in the business. I look forward to long and successful relationship with RFG.
- B. Owens
Because of its expertise with alternative financing, RFG is the only group that will look at certain projects - it doesn't shy away from challenging deals. I work with programs that no one else can work with and I can't do that without a company like RFG
- J. Couch
I was attracted to RFG because the company is fairly aggressive when it comes to making a deal, and it has a good history of recent closes. The people at RFG are responsive and return my email or phone messages immediately. The originators go out of out of their way to answer not only my questions, but questions directly from my clients. Remington's LOI and due diligence policies are spelled right out - there is no confusion. If the client can meet the requirements and has a good deal planned, securing funding through RFG should be no problem.
- C. Hanley
Remington Financial Group, Inc. - Recent Case Study
Remington Financial Group secures $1.8Million mezzanine financing
An Atlanta based real estate owner turned to RFG to secure mezzanine financing for its class A retail property located in Buckhead Georgia. Based on the quality of the property and its rent roll, the borrower had numerous mezzanine options from which to chose. It ultimately chose to close with financing provided through the mezzanine program of one of RFG's lenders.
The lender's willingness to provide higher leverage - 97percent LTV, more flexible terms, lower rate certainty and speed to closing over its competitors - made the decision easy for the borrower. The mezzanine financing was structured to be subordinate and coterminous with the $12MM senior CMBS financing and allowed for repayment at anytime after 12 months without penalty.
About Remington Financial Group, Inc.
Remington Financial Group has built its success upon well-established relationships with highly regarded domestic and foreign based private and institutional capital sources. Our extensive lender network combined with market expertise and a highly disciplined due diligence and transaction process means our clients benefit from integrated, seamless financing.
Throughout the due diligence and deal process, Remington works to provide customers with a clear picture of the status of their transaction and any fees. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the financing process, Remington offers a variety of creative financing options with highly competitive rates for:
Conventional financing | Hard-money loans | Bridge loans | Construction loans
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital so they are structured and tailored to each unique transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex transactions where other sources were unable to execute at all.
Remington can help revitalize existing deals that may be at risk with expert Advisory Services or assist with a comprehensive set of Financing Programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiations and coordination of placement and closing processes.
Remington Financial Group, Inc. - Available Financing Programs
Senior Debt/Equity Financing
Mezzanine/Bridge Loan Financing
Joint Venture Financing
Multifamily
Remington Arranges
Specialized Financing For:
Remington Financial Group, Inc. - Additional Advisory Services
Remington's expert Advisory Services help clients carefully evaluate and restructure transactions that may have existing financing challenges. Our team develops advanced strategies to create new and alternative financing opportunities that can help supplement or replace conventional lending sources.
By providing our clients with access to the latest and most competitive capital sources the market has to offer, RFG's borrowers gain the advantage of a comprehensive perspective from which to choose the widest range of financing products available.
Remington also offers quick access to capital sources that can meet the unique demands of specialty and challenging transactions. Companies that are currently restructuring or emerging from bankruptcy and are in need of recapitalization, or considering expansion through leveraged acquisition, will benefit significantly from our experience and insightful guidance through complex transactions.
Remington Financial Group, Inc. - Has the expertise to Close Challenging Hospitality Transactions
The hotel business can present tough challenges for borrowers and lenders alike. It is not uncommon for hotels to require large amounts of capital for renovations, upgrades or expansions, while facing crucial downtime to fully implement those projects. Downtime in the hotel business often translates into lost or reduced revenues, which can impact the ability of a hotel property to secure financing in a timely fashion, or under favorable terms.
Remington Financial (RFG), a firm that specializes in commercial real estate investment, is a friend to the hospitality industry. Remington has a strong history of providing timely financing under favorable terms to hotels with challenging financing considerations.
Remington Financial Group has been at the vanguard in helping borrowers within the hospitality industry meet their needs by securing the financing for projects that are simply too risky or challenging for conventional lenders. Remington has been crucial in bringing financing to challenging projects across the United States. Some examples include:
RFG was the force behind securing nearly $6.5 million in acquisition and mezzanine financing for a 150-room hotel in Massachusetts owned by one of the leading hotel companies in the world.
Remington Financial Group helped a hotel brand with more than 1,300 locations throughout the United States, Canada, and Latin America secure $7 million in acquisition financing of two full-service hotels in Georgia.
A Las Vegas-based hotel and casino turned to Remington to procure acceptable terms on a $19 million bridge and mezzanine financing.
A 130-room New York hotel that is owned by one of the premier hospitality brands in the world found that RFG was the one who met its needs for the delivery of $13 million in construction financing for a much desired project.
When a full-service, 375-room hotel in Georgia that is owned by a brand known by travelers worldwide needed $22 million in floating rate acquisition financing, they turned to Remington Financial Group to get them the terms they needed.
When a real estate investment trust (REIT) and owner of nationally franchised mid-scale and upscale hotels needed to secure $23.5 million in permanent financing, only Remington could fund the loan under terms the REIT could happily accept.
For the $40 million in portfolio acquisition financing for its properties in Massachusetts, Washington D.C., Maryland, and New York, a large hotel investment company turned to RFG to secure the financing on time and under favorable terms.
To arrange for $56 million in recapitalization and mortgage refinancing for a portfolio of four hotels in Orlando, Florida, one of the world's top hotel companies turned to Remington Financial Group to provide the financing in a timely manner under terms that were agreeable.
When a major casino and resort hotel in Las Vegas, Nevada needed $19.5 million in senior and subordinate financing, it was Remington that delivered a finance package that the casino owners found both timely and acceptable.
About Remington Financial Group, Inc.
The extensive success of Remington Financial Group (RFG) in securing hospitality-based financing stems from its well-established relationships with highly-regarded domestic and foreign based private and institutional capital sources. Our extensive lender network - combined with market expertise and a highly disciplined due diligence and transaction process - means our hospitality clients benefit from integrated financing.
Knowing that hoteliers and other hospitality professionals can't afford long periods of downtime, RFG works to streamline and expedite the process of securing funds. Additionally, throughout the due diligence and financing process, Remington seeks to provide customers with a clear picture of the status of their transaction and any costs associated with it. RFG proactively works to overcome obstacles before they become barriers to a successful close. Delivering exceptional service throughout the process, Remington offers a variety of creative financing options with highly competitive rates for:
Conventional financing | Hard-money loans | Bridge loans | Construction loans
Representing clients exclusively, Remington carefully manages the formation of all tiers of capital, so they are uniquely structured and tailored for every hospitality transaction. This process saves clients time and money while significantly reducing transaction risk. Time and again, Remington has delivered refined capital solutions to complex commercial real estate transactions, which other sources would not have considered.
When it comes to existing deals that may be at risk, Remington can also help revitalize them with our expert advisory services or assist with a comprehensive set of financing programs including origination, evaluation, transaction structuring, preparation and underwriting, negotiation and coordination of placement, and closing processes.
Remington Financial Group, Inc. - Recent Hospitality Closings
Remington Financial (RFG) knows that downtime is the enemy in the hospitality industry. That's why the firm, which specializes in commercial real estate investment, is a friend to the hospitality industry. Remington has a strong history of providing timely financing under favorable terms to hotels with challenging financing considerations.
$3.5 MM - 128 Room Hotel, Bridge Loan
$136 MM - 570 Room Hotel, Construction Financing, 90% LTC - IL
$11 MM - Hotel Refinance 1st Mortgage Permanent Financing - CO
$48 MM - Hotel / Office, Acquisition / Renovation 80%LTC - MD
$7 MM - Hotel Acquisition, Acquisition Financing - MD
$19.5 MM - Hotel Resort & Casino, Senior / Subordinate Financing - NV
$40 MM - 6 Hotel Properties, Acquisition Financing - 6 East Coast Cities
$56.5 MM - Hotel, Debt / Mezzanine Financing - FL
$58 MM - 2200 Key Hotel Portfolio, Debt / Mezzanine Financing - FL
$1 MM - Hotel Suites, Bridge Financing - NV
$48 MM - 196 Key Hotel / Office, Acquisition / Renovation Financing, 80% LTC - MD
$12.5 MM - Hotel, Permanent Financing - GA
$23.5 MM - 800 Key Hospitality Portfolio, Permanent Financing - PA
$62.6 MM - Hotel, Acquisition / Redevelopment Financing - IL
$17.6 MM - Hotel, Construction Financing - NJ
$7 MM - 2 Full-service Hotels, Acquisition Financing - GA
$13 MM - 130 Key, Construction Financing - NY
$4.5 MM - Hotel, Bankruptcy Reorganization Financing - MO
$12 MM - Hotel, Permanent Financing - VT
$7.5 MM - Hotel Acquisition, Acquisition Financing - CT
$19 MM - Hotel, Bridge / Mezzanine Financing - NV
$4.5 MM - Hotel, Acquisition / Redevelopment Financing - MO
$6.4 MM - 130 Room Resort, Acquisition / Mezzanine Financing - MA
$7.8 MM - Hotel Construction, Construction Financing, 80% LTC
$130 MM - Luxury Hotel, Construction Financing, 90% LTC
$7.4 MM - Hotel, Acquisition / Redevelopment Financing
$22 MM - 375 Key Hotel, Floating Rate Acquisition - GA
$5.5 Million - Branded Hotel, Non-recourse Permanent Financing - VT
Remington Financial Group, Inc. - Private Equity Financing is Still Available
Remington Financial Group (RFG), a veteran investment banking firm, secures financing of $1 million and up for commercial real estate projects. RFG has a track record of delivering money for slightly unconventional developments or properties. The company can look past a property's immediate problems and help owners realize the full profit potential on their investments.
RFG is known for securing financing on extremely complex deals with incredibly fast turnaround times. The company was founded in 1993, and over the past 15 years, has grown because of its quick understanding of a client's financing objectives and its ability to move quickly with its lenders. In 2007, RFG closed more than $1 billion in client transactions, and the company in on track to exceed that figure for 2008.
Remington Financial Group is an entrepreneurial organization, and, although it is open to financing higher-risk projects, it usually requires developers or builders to have at least three years' experience. RFG also prefers to invest in projects located in strong markets, where sell-out or stabilization may occur within two years.
RFG's other financial solutions include second mortgages, mezzanine financing, bridge loans and long-term B-paper loans. RFG also finances many joint venture (JV) projects. Typically, RFG provides JV financing for condo developments and hospitality industry properties. The company can provide up to 100 percent financing on joint ventures on all types of properties. The loan to sell out value ratio ideally should not exceed 80 percent.
Remington Financial Group, Inc. - (RFG) - Private Equity Division
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 development projects, including apartments and mixed-use buildings, assisted care facilities, special purpose properties (such as car washes), hotels and motels, multi-dwelling units, mixed-use commercial properties, office buildings, and industrial and retail properties.
RFG is led by a team of real estate and financing veterans including principal Andrew Bogdanoff, who founded the company in 1993. Under his leadership, the company has experienced tremendous success and growth. Andy oversees all aspects of RFG's business. Mr. Bogdanoff launched his career in the financial business in 1971.
Remington Financial Group, Inc. - Joint Venture (JV) Loan Process
1. Submit Business Plan / Executive Summary
2. Pre-qualification determination process - project is reviewed and evaluated
resulting 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 terms
and the propsal is issued
4. Due-Diligence document checklist of typically requested data is prepared and
sent to client
5. Analysis of all documents, preparation and packaging of the data for
submission 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 are
accepted, a site visit and market analysis will commence
8. Closing / Capitalization / Funding
Remington Financial Group, Inc. is a leading investment banking firm looking to finance projects between $500k and $1B.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
