Metro Funding Corp. Closes A $50 Million Credit Facility
Paramus, N.J., April 4 / PRNewswire/ -- Metro Funding Corp. (MFC), an asset-based commercial real estate lender announces the closing of a $50,000,000 secured credit facility with WestLB. The $50,000,000 secured credit facility allows MFC to successfully grow its current asset-based lending business, while providing a more attractive cost of capital. "This is a big step in our growth process. We will continue to expand our U.S. presence and provide quality service at a more competitive price," stated David Hecht, President.
The 3 year revolving credit facility provided by WestLB represents a securitization of short term mortgage loans originated by Metro Funding Corp. in the US. "WestLB's experience as a commercial real estate lender helped Metro Funding Corp. achieve its goals for future growth initiatives," said Jon Hellbusch, Director in WestLB's Asset Securitization Group.
FalconBridge Capital Markets, LLC acted as advisor to Metro Funding Corp. and served as Placement Agent for the transaction.
Metro Funding Corp., headquartered in Paramus, NJ is a commercial real estate lending company specializing in asset-based opportunity (hard money) and conventional loans. Metro Funding Corp. provides domestic and international loans to corporate entities.