Inland Mortgage Capital, LLC (“IMC”), a private lender specializing in intermediate-term mortgages for value-add commercial real estate, announced that it reached $200 million in closed loans under its small-balance, non-recourse bridge program. Since launching the program in 2015, IMC has provided financing for commercial real estate nationwide, concentrating on small-balance projects from $3 to $15 million.
“The demand for small-balance, non-recourse financing has been on the rise and we are capitalizing on the opportunity,” said Art Rendak, president of IMC. “Inland Mortgage Capital has proven that there is a sustainable need for private debt capital for smaller commercial real estate projects, and we continue to look for new loan opportunities to increase our portfolio.”
The $200 million in loans funded projects across 16 states, and included financing for traditional real estate like multifamily, industrial and retail, as well as student housing projects and self-storage facilities. IMC’s program benefits its borrowers in that its loans are non-recourse to the sponsors. Also, IMC does not charge interest on future loan advances until they are disbursed.
