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ReCap Secures 100% Construction Financing for Developer - Another successful multi-million dollar loan has been financed by Real Estate Capital of America (ReCap). The construction loan will finance the development of a new Staten Island strip mall project - ReCapAm.com
ReCap Secures 100% Construction Financing for Developer

 

NewswireToday - /newswire/ - New York, NY, United States, 2008/01/07 - Another successful multi-million dollar loan has been financed by Real Estate Capital of America (ReCap). The construction loan will finance the development of a new Staten Island strip mall project - ReCapAm.com.

   
 
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Real Estate Capital of America (ReCap) recently secured a $5M construction loan for a Staten Island strip mall project. The development, which had been on hold for about six years due to a lack in funding, had been a long and difficult process before ReCap. “The client simply had worked with too many inexperienced brokers – very few of which understood how to structure a deal on a land lease,” said Johnny Su, COO of ReCap, who worked on the loan.

ReCap, a boutique mortgage firm, has vast expertise in creative financial solutions which helped the client acquire the financial resources required to complete the project. Once finished, the new shopping center will be one the largest developments in Staten Island. It will consist of a Wendy’s and several other retail stores.

“Other commercial lenders looked at this deal and just passed on it,” said Su. “When the client came to us, he expected nothing short of a hard-money loan due to past negative experiences, but we were able to completely restructure the deal,” said CEO of ReCap, Tomer Dicturel, “making another ‘impossible’ loan possible.” Dicturel also assisted with the loan.

ReCap has helped other businesses find financing with constraints such as those short time frames, credit issues, or high leverage transactions. “We specialize in challenges of the difficult loans because that is how we distinguish ourselves from our inexperienced competition,” said Dicturel. "This is our expertise," he added.

Real Estate Capital of America, Inc. (recapam.com) is a prominent finance boutique assembled by distinguished experts. The professionals at ReCap assist their customers throughout the entire loan process. Their commitment to service and excellence keep customers satisfied. They in turn continue to refer ReCap services to their colleagues. "We work hard to provide the best financing in complicated deals," adds Dicturel, "We succeed where others fail."

 
 
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ReCap Secures 100% Construction Financing for Developer

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Publisher Contact: Sara Faura - GMACRealEstateIPG.com 
857-204-4820 sfaura[.]gmacrealestateipg.com
 
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