Daily News: March 3, 2014

Realty onRamp Exceeds $3B of Available Capital

reatlyonramp.com (onRamp), an open platform, for commercial real estate borrowers and lenders to find one another, announced lenders representing over $3 billion in available capital have subscribed to the site in its first week of operation. The lenders represent a wide variety of organizations, including private capital sources, bridge lenders and several banks across North America.

“We are very pleased to see the immediate and positive response from the commercial lender community” said Rick Robertson, founder and CEO. “Lenders see this as a simple, yet secure, source of new and qualified leads.”

The onRamp platform is available to finance all types of commercial real estate — office, industrial, multi-family, retail and others. Additionally, the site is not just for typical mortgages, but also for bridge lending, construction finance and even second lien and mezzanine finance.

“We want to completely change the way commercial real estate gets financed. There’s no reason it shouldn’t be as simple as booking a hotel room online” said Robertson.

Realty onRamp continues to sign up additional commercial lenders and anticipates to open the platform to borrowers in the coming weeks.