Loans

Cansortium Inc. Announces Further Progress on Strategic Initiatives

Economy, Profit, Finance, Money, Fundamental analysis, Income statement, Amortization, Loans, Real estate, Earnings before interest, taxes, depreciation, and amortization, Net income, Income
Monday, June 1, 2020 - 11:13pm

The Company has completed the sale of its non-core Canadian assets, previously announced on December 17, 2019.

Key Points: 
  • The Company has completed the sale of its non-core Canadian assets, previously announced on December 17, 2019.
  • Neal Hochberg, Executive Chairman of the Board of Cansortium, noted, "We continue to make important progress on the Company's strategic plan.
  • The Company calculates EBITDA from net income (loss), plus (minus) interest expense (income), plus income taxes, plus depreciation and amortization.
  • Cansortium has developed strong proficiencies in each of cultivation, processing, retail, and distribution activities, the result of successfully operating in the highly regulated cannabis industry.

Urban Edge Properties Announces Debt Refinancing at The Outlets at Montehiedra

Commercial Building & Real Estate, Construction & Property, Department Stores, Other Retail, Finance, Professional services, Other Construction & Property, Retail, Residential Building & Real Estate, Other Professional Services, Mortgage, Personal finance, Economy, Loans, Mortgage loan, Refinancing
Monday, June 1, 2020 - 9:15pm

Urban Edge Properties (NYSE:UE) announced today that it has completed the refinancing of its mortgage loan at The Outlets at Montehiedra, a leading value-oriented retail destination located in San Juan, Puerto Rico.

Key Points: 
  • Urban Edge Properties (NYSE:UE) announced today that it has completed the refinancing of its mortgage loan at The Outlets at Montehiedra, a leading value-oriented retail destination located in San Juan, Puerto Rico.
  • With the completion of this refinancing, the Company does not have any other debt maturities until May 2022.
  • Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region.
  • Urban Edge owns 78 properties totaling 15.1 million square feet of gross leasable area.

Greystone Provides $34.4 Million Fannie Mae DUS® Loan to Refinance a Multifamily Property in Lubbock, Texas

Economy, Mortgage, Money, Finance, Loans, Personal finance, Fannie Mae, Loan servicing, Refinancing, Amortization
Monday, June 1, 2020 - 7:00pm

NEW YORK, June 01, 2020 (GLOBE NEWSWIRE) -- Greystone , a leading commercial real estate lending, investment, and advisory company, has provided a $34,419,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a 266-unit multifamily property in Lubbock, Texas.

Key Points: 
  • NEW YORK, June 01, 2020 (GLOBE NEWSWIRE) -- Greystone , a leading commercial real estate lending, investment, and advisory company, has provided a $34,419,000 Fannie Mae Delegated Underwriting and Servicing (DUS) loan to refinance a 266-unit multifamily property in Lubbock, Texas.
  • The $34.4 million Fannie Mae financing has a 12-year term and 30-year amortization, with five years of interest only payments.
  • The loan enables the borrower to consolidate three construction loans into permanent financing, continue with ongoing improvements, and monetize their existing equity.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

SI-BONE, Inc. Announces $40 Million Debt Re-Financing

Loans, Amortization, Real estate, Bone, Creative works, Comics
Monday, June 1, 2020 - 1:30pm

Proceeds from the new $40 million, five-year term loan will be used to repay SI-BONEs prior $40 million term loan obligation in its entirety.

Key Points: 
  • Proceeds from the new $40 million, five-year term loan will be used to repay SI-BONEs prior $40 million term loan obligation in its entirety.
  • The new loan has a 60 month term, with an interest-only period of 36 months, and 24 months of straight-line amortization.
  • Furthermore, the terms of the re-financing, including the financial covenants of the new loan, will provide SI-BONE with additional operating flexibility going forward.
  • SI-BONE and iFuse Implant System are registered trademarks of SI-BONE, Inc. 2020 SI-BONE, Inc. All Rights Reserved.

The Valens Company Enters into $40 Million Debt Facility

Economy, Money, Finance, Credit, Loans, Financial law, Personal finance, Revolving credit, Debt, Line of credit, Corporate finance
Monday, June 1, 2020 - 12:01pm

Under the terms of the credit facility, the Lenders will provide The Valens Company up to C$40 million of secured debt financing.

Key Points: 
  • Under the terms of the credit facility, the Lenders will provide The Valens Company up to C$40 million of secured debt financing.
  • The Credit Facility consists of a C$20 million secured term loan and a C$20 million secured revolving loan, with an accordion feature that could allow The Valens Company to increase the aggregate commitments by up to an additional C$10 million.
  • The Credit Facility has a three-year term and is secured by a first ranking charge over substantially all the Company's assets.
  • Nothing herein should be construed as either an offer to sell or a solicitation to buy or sell securities of The Valens Company.

Open Lending Announces May Cert Metrics and Announces June 9, 2020 as Special Meeting Date to Approve Business Combination with Nebula

Marvel Comics characters, Fictional characters, Fiction, Loans, Nebula
Monday, June 1, 2020 - 12:00pm

Our lending partners have been resilient and continue to utilize our platform, showcased by our 96% lender retention from December 2019 to May 2020.

Key Points: 
  • Our lending partners have been resilient and continue to utilize our platform, showcased by our 96% lender retention from December 2019 to May 2020.
  • The parties expect to close the business combination on or about June 10, 2020.
  • Nebula is postponing the Extension Meeting to 12:00 p.m., Eastern time, on June 9, 2020, immediately following the special meetings of Nebulas stockholders and warrantholders being held to approve the proposed business combination.
  • However, while Nebula and Open Lending may elect to update these forward-looking statements at some point in the future, Nebula and Open Lending specifically disclaim any obligation to do so.

Monument Reports Third Quarter Fiscal 2020 Results

Amortization, Loans, Real estate, Economy, Drill, Accretion, Articles
Saturday, May 30, 2020 - 1:46am

Gross margin of $5.08 million before non-cash amortization and accretion, an increase of 184% compared to $1.79 million in the same quarter last year.

Key Points: 
  • Gross margin of $5.08 million before non-cash amortization and accretion, an increase of 184% compared to $1.79 million in the same quarter last year.
  • Gold sales generated of $11.62 million for the quarter compared to $4.60 million in the same period last year.
  • The increase in production costs reflected more gold being sold in the third fiscal quarter 2020 compared to same period last year.
  • Drilling Program Phase 1: The drill program commenced on February 26, 2020 and the first phase of this drill program was completed on March 12, 2020.

Arbor Realty Trust’s Private Label Mortgage Lender Closes $727 Million Multifamily Mortgage Loan Securitization

Finance, Money, Economy, United States housing bubble, Mortgage-backed security, Loans, Mortgage loan, Securitization
Friday, May 29, 2020 - 9:10pm

UNIONDALE, N.Y., May 29, 2020 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE:ABR) today announced the closing of a private label multifamily mortgage loan securitization totaling approximately $727 million (the Securitization).

Key Points: 
  • UNIONDALE, N.Y., May 29, 2020 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE:ABR) today announced the closing of a private label multifamily mortgage loan securitization totaling approximately $727 million (the Securitization).
  • Arbor Private Label, LLC, originated the mortgage loans and was the loan seller and sponsor for the Securitization.
  • The Securitization is the first for Arbors new private label multifamily mortgage loan securitization program.
  • The Securitization is backed by a pool of 40 fixed rate, 10-year mortgage loans secured by first priority mortgage liens on 49 multifamily properties.

Financial stability to help Canadians: CMHC results for first quarter 2020

Economy, Money, Finance, Loans, Mortgage loan, CMHC, Insurance, Canada Mortgage and Housing Corporation, Affordable housing in Canada
Friday, May 29, 2020 - 6:00pm

CMHC has alsopublished business supplements on its Mortgage Insurance, Mortgage Funding and Covered Bonds activities, providing additional depth and insights on each.

Key Points: 
  • CMHC has alsopublished business supplements on its Mortgage Insurance, Mortgage Funding and Covered Bonds activities, providing additional depth and insights on each.
  • We also took steps to ensure that non-profit and co-operative housing providers continue to receive federal rent subsidies for low-income tenants.
  • Our capital position remained strong throughout the first quarter of 2020, with an excess capital of $3 billion.
  • Since March 31, 2020, CMHC has continued to take an active role in supporting the Government response to COVID-19 .

Redfin Mortgage Expands to Arizona, Delaware and New Hampshire

Redfin, Economy, Finance, Loans, Mortgage broker, Mortgage loan, Service industries
Friday, May 29, 2020 - 5:26pm

SEATTLE, May 29,2020 /PRNewswire/ --(NASDAQ: RDFN) Redfin Mortgage , LLC is now offering loans to homebuyers in Arizona, Delaware and New Hampshire.

Key Points: 
  • SEATTLE, May 29,2020 /PRNewswire/ --(NASDAQ: RDFN) Redfin Mortgage , LLC is now offering loans to homebuyers in Arizona, Delaware and New Hampshire.
  • A subsidiary of Redfin ( www.redfin.com ), the tech-powered real estate brokerage, Redfin Mortgage is revolutionizing the way people finance homes through a combination of technology and personal service from local mortgage advisors.
  • Redfin Mortgage seamlessly integrates with Redfin's home-buying service, should the homebuyer elect to work with a Redfin agent.
  • Of the newly launched markets, digital closings are available to Redfin Mortgage customers in Arizona and New Hampshire, but not Delaware.