What sets us apart from the other asset managers? Two main things:
1) When it comes to residential development, land, and fractured condos, our principals each have over 20 years of experience as developers and financiers. So when problems arise, we know how to fix them. See examples of our proven track record here.
2) We are willing to put our money where our mouth is! We have significant capital to invest where the situation warrants it, and ALL workouts require capital! Our capital can be used to complete construction, finish entitlements, make necessary property improvements, pay debt service, pay taxes, insurance, HOA dues, etc. Putting its own capital at risk is not typically something that a third-party asset manager is willing, or able, to do and one obvious reason why Mountain Funding is unique.
Mountain Funding provides: (a) priming DIP loans to fund debtors’ reorganization and exit plans; and (b) if practical, equity to assist debtors and lenders fund workout plans. Additionally, we are actively seeking to purchase distressed debt or making priming loans to complete stalled construction projects. Term sheets, due diligence and closing can be done extremely quickly, because:
- We have over $1 billion in liquid capital earmarked specifically for opportunistic acquisitions and lending
- We have been funding complex hard money land loans, hard money commercial real estate loans, and residential development loans since 1993 in all major national markets
- Our internal staff of experienced development and management professionals can move quickly and decisively
- We have outside consultants and attorneys in every major market, ready to jump on any complex situation
- We are experienced in the workout, bankruptcy and DIP process, including all hurdles to