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Friday, 06 April 2018

Columbia Pacific Aims to Ramp Up Lending Business

Columbia Pacific Advisors, which last year funded $250 million of bridge loans against commercial properties, expects to increase its volume this year to $350 million to $400 million. The company got into the lending business seven years ago and since then has written roughly $1 billion of loans.

Commercial Real Estate Direct Staff Report

Columbia Pacific Advisors, which last year funded about $250 million of bridge loans against commercial properties, expects to increase its volume this year to $350 million to $400 million.

The Seattle company has been writing bridge loans and what some previously had called "hard money loans" since 2011. Since then, it's written about 110 loans totaling some $1 billion. Its portfolio currently totals more than $500 million - a volume it would like to increase to $1 billion.

Columbia Pacific writes loans with terms of 12 to 60 months that sponsors might use to fund the purchase of a property or to buy time before a property might be suitable for permanent financing. It retains all its originations on its balance sheet.

"We're flexible and customize terms to what the borrower needs," explained Billy Meyer, who co-heads the company's lending strategy with Brad Shain. Because the company...


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