Coral Gables, FL – Korth Direct Mortgage Inc. (“KDM”) a leading middle-money commercial real estate lender, announced it closed a $100,000,000 warehouse facility with Signature Bank. The agreement provides access to a repurchase facility in an aggregate amount up to $100,000,000 until 3/14/2025, unless the facility is earlier terminated, in order to allow KDM to close first priority lien mortgages on commercial properties. The flexibility this line provides KDM will allow the company to more rapidly identify and close the types of high-quality, investment grade, institutional quality loans that are the hallmark of its lending model. In addition, the warehouse line is expected to open up new opportunities with respect to KDM’s MSNs.
Brean Capital, LLC served as the company’s Exclusive Financial Advisor in connection with the transaction.
“Having the means to access this line to close on multiple high-quality loans and pool them together allows us to provide more predictable closing dates for our borrowers and access to more attractive Mortgage Secured Notes for our investors,” said Holly MacDonald-Korth the company’s President and CFO.
She continued, “We are eagerly looking forward to the opportunities that working with a partner like Signature will have for our business, as we look to continue in a sustainable way, the tremendous year over year growth of our originations business.”
Korth Direct Mortgage Inc. (“KDM”) is a vertically integrated originator, lender, servicer, specializing in the securitization of first lien commercial real estate debt based in Coral Gables, Florida. KDM specializes in lending on income producing real estate, typically light industrial, warehouse, office, multi-family and medical properties. The company provides flexible institutional capital as a common-sense lending partner and manages borrowers through the entire loan life cycle. KDM issues Mortgage Secured Notes (“MSNs”) to fund its loans. MSNs are registered corporate bonds (“KDMMTG” on Bloomberg). More information about KDM’s lending platform is available at: www.kdmfinancial.com; or visit the company’s corporate website at: www.korthdirect.com.
Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 40 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction. For more information, please visit: https://www.breancapital.com/IB/IBIndex