Daily News: December 12, 2014

Partners Capital Provides $8MM Credit Line to FMB

Partners Capital Solutions provided FMB Development (FMB) with an $8 million line of credit. The loan was created to expedite FMB’s rapid purchases of underutilized and outdated residential properties.

In order to maintain speed and efficiency, FMB needed to close quickly and found that PCS was able to do so and with ease.

Ilan Kenig, founder and CEO of FMB, said the credit line is a “unique product unlike any other product in the market.”

“We are looking at PCS as a long term partner to help execute our business plan successfully. We really enjoy working with the entire team,” Kenig added.

FMB re-entitles and resells underutilized residential properties to builders in a development-ready state.