The senior partner and president of Global Capital Partners, Joe Malvasio, recently approved a $16.8 million loan on a development site for building homes located in North Carolina. The decision comes after North Carolina was declared one of the top ten states to buy and sell real estate in 2021.
The deal comes as a relief for investors struggling to acquire commercial real estate loans due to the ongoing pandemic. Although Malvasio has closed larger loans in the past, approving a multimillion-dollar loan soon after the restrictions lifted sets a precedent in the private lending industry.
“We certainly see this as a positive sign,” confirmed a real estate lender. “Everyone, from lenders to investors, is still walking on eggshells due to the absolute havoc the pandemic wrought on commercial real estate. Having an experienced lender like Joe come forward with a loan this big is a reassuring sign for all of us. This is just the beginning—I’m sure we’ll see more of these million-dollar deals in the near future.”
With more than 40 years of experience in the industry, Malvasio is seen as somewhat of a role model in his line of work. So far, his lending company has closed commercial loans starting from a million dollars to $100 million.
GCP Fund assists investors and developers throughout the real estate development process. They provide short-term and long-term funding at every step, starting from site acquisition and ending at construction.
Their flexible solutions include mezzanine and construction financing for the acquisition and development of warehouses, multi-family properties, hotels, hospitals, mixed-use properties, apartments, and other commercial and residential real estates in the United States and beyond.
Further details about loan structures and applications are available at the company website given below.
