Modern Banking Group (MBG) announced the successful closing of a $5 million revolving line of credit for a leading nationwide real estate development and management firm. This transaction underscores the Bank’s commitment to providing flexible and strategic capital to influential players in the commercial real estate sector and illustrating the true partnership between MBG and its clients.  

“This funding opportunity reflects MBG’s focus on relationship banking and our capacity to execute complex transactions that support the unique financing needs of large real estate management and development companies. This is a clear example of our strategic mindset: provide outstanding customer service and sophisticated financial solutions to middle-market entities,” said Steven Caligor, Chief Lending Officer. “We look forward to leveraging this success as we continue to grow our presence and provide essential capital to leaders in the Real Estate, C&I, Energy, Technology, and Equipment Finance sectors.”   

Norman Jemal, Principal of Douglas Development continued, “It’s great to work with longtime trusted partners like Steven and MBG, who are creative and truly understand our business and the need for certainty of execution.”   

The Bank’s lending team showcased exceptional creativity, deep expertise, and seamless collaboration — all of which played a pivotal role in the successful execution of this transaction. This remarkable achievement reflects the outstanding leadership of our Managing Directors, Max Furman & Joe Petrelli; Director, Kevin Dalton, and our Portfolio Managers, Alex Jeffrey & Dean Hrozenchik, all guided by the strategic vision of our Chief Lending Officer, Steven Caligor.