FirstKey Lending
Offers Investors
Unique Options
by Tim Houghten
Y
ou Asked, They Listened: FirstKey Offering More
Ways to Finance Your Investments.
In early 2013, New York-based FirstKey Lending
was the first to step into a new financing space –
making capital accessible to small- and medium-sized
investors in one- to four-family residential rental
properties nationwide.
The financial firm’s Chief Executive Officer, Randy
Reiff, says the firm purposefully positioned itself to
“invigorate the small and middle markets” and to “em-
power smart, entrepreneurial investors to build and
optimize their portfolios and businesses.”
The financial backing of Cerberus Capital Man-
agement, L.P., one of the country’s largest private
investment firms, gave FirstKey the opportunity to
hit the ground running while focusing its attention on
developing the products its customers needed.
Following the successful introduction of its Portfo-
lio Premier fixed- and floating-rate loan products for
larger investors needing $4M to $500M in funding,
FirstKey launched its Investor Portfolio Express loan
product for investors seeking loans of $500,000 to
$4 million. That product was developed to simplify
the closing process and reduce cost when dealing
with smaller transactions. “We’re very excited about
the market’s response and the potential our Investor
Portfolio Express product, through which we have
been able to introduce a cost effective and simplified
process by streamlining documentation and closing,”
Reiff said.
These Investor Portfolio Express loans offer
investors reduced borrowing costs and a much more
efficient process than was previously available to
these owners so that they can buy additional one- to
four-family properties, refinance their existing debt or
cash out.
In recent weeks, the company has also begun to roll
out two additional products to support entrepreneurial
borrowers:
Investor Property Express is the first of its kind,
offering individual loans of as little as $75,000 up
to $1 million per individual residential property,
depending on the number of units. What makes these
Randy Reiff, CEO of FirstKey Lending
FirstKey Commercial
FirstKey Lending has closed,
or is in the process of closing,
Bridge Loan Features:
approximately $500,000,000
Loan Amounts: $1M to $25M
worth of loans, including
the following representative Rate Type: Floating
Loan Term: Up to 3-year
transactions:
Property Type: Commercial
$842,000
(including office, retail, multi-
23 properties
family, industrial, self-storage
located in PA
and flagged hospitality assets)
Loan-to-Value: Up to 75%*
$1,659,000
FirstKey Investor Portfolio
Express Loan Features:
41 properties located
in TX, OH, GA
Loan Amounts: $500,000 to $4M
Rate Type: Fixed
Loan Term: 5- and 10-year
Property Type: 1- to 4- family
residential including condos
and townhouses
Loan-to-Value: Up to 75%
Amortization: 20 to 30 year
Interest rate: Competitive pricing
$9,750,000
85 properties
located in CA
$18,500,000
340 properties
located in FL, GA
$52,000,000
For more information, please
contact Dennis Cisterna at:
619.743.8215
583 Properties located
in GA, NC, TN, TX, MS
Continued on pg. A18
Realty411Guide.com
PAGE A14 • 2014
reWEALTHmag.com