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| Alexa Mizrahi |
LOS ANGELES, CA – Lone Oak Fund, LLC, a private mortgage
fund specializing in short term loans on commercial and residential properties
throughout California, has announced the close of its highest-volume year in
company history.
According to Alexa Mizrahi of Lone Oak Fund, the fund
closed 844 loans in 2013, totaling $378,098,000, an 8.67% increase over the
prior year’s total.
Since its inception in 2003, Lone Oak has closed nearly
2,900 loans, amounting to over $1.8 billion.
Lone Oak attributes its rapid
growth to working closely with the brokerage community, as well as cooperating
frequently with junior trust deed lenders, according to Mizrahi.
“In ten years, we have become one of the most active private
money lenders in California,” Mizrahi says. “We provide a crucial financing
solution to real estate investors, developers, and foreign nationals.”
Lone Oak expects even greater growth in 2014, with a
projected loan volume in excess of $400,000,000. According to Mizrahi, Lone Oak
anticipates that this year, in addition to non-owner occupied residential
properties, a larger percentage of loans will come from apartment, industrial,
and retail properties.
“Investors are more confident with the market and are
aggressively acquiring and repositioning properties,” says Mizrahi. “We are
experiencing a major upturn in business because our proven ability to close
quickly enables borrowers to take advantage of these opportunities.”
Lone Oak manages its own fund, providing flexibility and
alternative solutions that work best for its borrowers, according to
Mizrahi. The firm specializes in short
term loans with no prepayment penalties, and typically closes its loans within
a week or less.
Lone Oak Fund provides refinance loans and acquisition financing
on non-owner occupied residential, multifamily, retail, office, and industrial
properties, as well as vacant buildings and entitled land.
For a complete
copy of the company’s news release, please contact:
Jenn Quader or Amanda Alenick
Brower, Miller & Cole
(949) 955-7940
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