iTrade Investments recently closed financing of $57.2 million for MA Real Estate Group.
iTrade provided MA Real Estate Group with an interest-only bridge loan featuring a three-year term with the option for two one-year extensions. The borrower announced last week that it utilized $33.6 million of the loan proceeds to repay the balance on the construction loan the company had obtained ($40.6 million financing package for the property’s redevelopment) in 2020.
"We have worked closely with iTrade Investments before and they've been great partners to us for a number of years" said the COO of MA Real Estate Group. Financing for the loan was arranged by Vincent Michael the CEO of iTrade. The deal was executed incredibly quickly and smoothly.
Headquartered in Phoenix, Arizona, iTrade Investments has built a reputation as the industry leader in the alternative finance space. The firm provides bridge loans secured by commercial real estate in primary markets through both its domestic and offshore investment vehicles. To date, the firm has provided over $600 million in first mortgage loans across more than 197 loan transactions.