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Encina Lender Finance, Sterling National Bank Provide Up to $150MM Credit Facility to iBorrow

February 04, 2021, 08:20 AM
Filed Under: Lender Finance

iBorrow announced plans to expand its lending efforts through a senior credit facility provided by Encina Lender Finance and Sterling National Bank, and a direct investment provided by certain investment funds managed by Oaktree Capital Management, L.P. through certain subsidiaries.

iBorrow provides bridge loans to qualified real estate investors active in the commercial real estate marketplace. iBorrow is led by partners Brian Good, Andy Peltz, Harlan Peltz and Andy Smith. "Forging a relationship with Encina, Sterling National Bank and Oaktree is a very important step in the growth of iBorrow" said iBorrow CEO Brian Good. "The investment capital will be utilized to expand our loan book across the United States at a time when we feel there will be heightened demand for real estate financing solutions."

iBorrow has been providing commercial real estate loans to investors and developers since 2013. iBorrow focuses on non-recourse real estate loans in the $3-$30mm size range to borrowers that have deep expertise in the purchase, renovation and sale/refinance of commercial real estate assets. iBorrow will continue to operate its fully-integrated, specialty lending platform, with plans to grow its lending book significantly in 2021 across the US.

Luke Graham, CEO of Encina Lender Finance, said, “We have enjoyed working with Sterling National Bank to structure and document the credit facility for iBorrow. Our facility was designed to support the operational and growth objectives of the seasoned management team at iBorrow.”

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