Category Archives: News

Rafkin Lending Finances Houston Shopping Center

Private lender closes loan in 16 days

Dallas, TX (September 19, 2012) – Rafkin Lending announces the closing of a $1,930,000 loan to WFP Lawndale, LP, an entity of Wingfield Partners, LLC. Wingfield intends to rehabilitate and re-lease Lawndale Shopping Center, which is located at Lawndale Avenue and South 75th Street in Houston. The need for financing arose quickly and Rafkin Lending moved swiftly to provide it.

“We are very pleased to finance the makeover of Lawndale Shopping Center, and to work with Wingfield Partners. Wingfield has the creativity, experience, and smarts to successfully renovate the Center. It took us sixteen days to the close the loan, from a handshake to a funding. The loan highlights the qualities of Rafkin Lending: expertise in analyzing real estate, sound judgment in evaluating a turn-around, and financial strength in providing certainty of funding. We specialize in lending on high quality properties that are being rehabilitated,” says Bill Rafkin, principal of Rafkin Lending.

Lawndale Shopping Center was built in 1998 and is located in a densely populated area inside Loop 610, near I-45, and five miles north of Hobby Airport. The area has a shortage of retail space, most of which is owned by institutional investors. Wingfield saw an opportunity to update and re-anchor the Center to attract new tenants.

The loan is secured by a first lien and the loan-to-value ratio is within the boundaries set by Rafkin Lending’s underwriting standards. It seeks to make similar loans and provide commercial development financing to seasoned investors and developers for worthy projects located throughout the country.

Larry Peters of Kinghorn, Driver, Hough & Co. in Houston represented Wingfield Partners and facilitated the transaction.

About Rafkin Lending

Rafkin Lending makes well secured loans to experienced borrowers seeking to refinance, acquire, or redevelop warehouses, office buildings, retail centers, apartments, and commercial land located in major cities throughout the US. Its loans range from $2 million to $20 million, with terms of one to five years. Its loans have no personal recourse to the borrower. As a “portfolio” lender, Rafkin Lending invests its own money in the loans it originates and it holds onto them through maturity.

Since inception in mid-2011, Rafkin Lending has funded $23 million of loans secured by land, office, and retail centers located in Texas and elsewhere.

Rafkin Lending Closes Land Loan in Houston

Private lender provides $5.6MM loan

Dallas, TX (August 21, 2012) – Rafkin Lending announces the closing of a $5.6 million land loan to The District at Parkway Lakes. Parkway Lakes is part of a 1,250-acre master-planned residential and commercial community located in far west Houston along Westpark Tollway and Grand Parkway, and situated just south of the Cinco Ranch.

“We are pleased to make this loan at a time when others are unwilling to lend on land. We obviously like the features of Parkway Lakes and have great faith in its owner and developer. The loan highlights our strengths: expertise in analyzing supply and demand, deep experience with all property types, and great certainty of funding. We specialize in lending on high quality properties that are being developed or rehabilitated,” says Bill Rafkin, principal of Rafkin Lending.

Parkway Lakes is located in the center of economic vitality of Houston created by job growth from the nearby Energy Corridor. There are thousands of homes in the area needing the support of commercial and retail property. Due to its prime location, convenient access, and excellent visibility, Parkway Lakes is ideally positioned to meet those needs. The owner of Parkway Lakes intends to thoughtfully sell or develop sites that will enhance the dynamics of the area.

The loan is secured by a first lien and the loan-to-value ratio is within the boundaries set by Rafkin Lending’s underwriting standards. Rafkin Lending seeks to make similar land loans to seasoned investors and developers for worthy projects located throughout the country.

About Rafkin Lending

Rafkin Lending makes well secured loans to experienced borrowers seeking to refinance, acquire, or redevelop warehouses, office buildings, retail centers, apartments, and commercial land located in major cities throughout the US. We make loans ranging from $5 to $20 million, with terms ranging from one to five years. Our loans have no personal recourse to the borrower. As a “portfolio” lender, we invest our own money in the loans we originate and we hold onto them through maturity.

Since inception in Spring 2011, we have funded over $21MM of loans secured by land and office building redevelopments located in Texas and elsewhere.

Rafkin Lending Closes a $12MM Real Estate Loan in Dallas

Private lender provides a quick close on Real Estate Loan

Dallas, TX (November 7, 2011) – Rafkin Lending announces the closing of a $12 million loan to a Behringer Harvard entity for the refinancing of a data center located at 1221 Coit Road in Dallas. The data center is 128,000 square feet in size and is fully occupied by Internap Network Services Corporation on a long-term lease.

“We promptly evaluated and closed this loan to meet the borrower’s short timeframe. The building and lease are quite complex, but we were able to assess the issues quickly. The transaction highlights our strengths: expertise in understanding complex situations, speed of execution, and certainty of funding. We are pleased to offer much needed capital in a difficult financing environment,” says Bill Rafkin, principal of Rafkin Lending.

Behringer Harvard and Internap just completed a conversion of the building to a state-of-the-art data center, which Internap will use to increase its presence in Dallas. Internap provides high-performance information technology infrastructure services that enable its customers to focus on their core business, to improve their service levels, and to lower their cost of IT operations. The building has abundant power and telecommunication capacity.

The loan is secured by a first lien and the loan-to-value ratio is within the boundaries set by Rafkin Lending’s underwriting standards. Rafkin Lending seeks to make similar loans to seasoned investors and developers for worthy projects located throughout the country.

About Rafkin Lending

Rafkin Lending makes well secured loans to experienced borrowers seeking to refinance, acquire, or redevelop warehouses, office buildings, retail centers, apartments, and commercial land located in major cities throughout the US. We make loans ranging from $3 to $20 million, with terms ranging from one to five years. Our loans have no personal recourse to the borrower. As a “portfolio” lender, we invest our own money in the loans we originate and we hold onto them through maturity.

Rafkin Lending Closes Land Loan In Phoenix

Private lender kicks-off lending program

Dallas, TX (October 4, 2011) – Rafkin Lending announces the closing of a $3.56 million first lien land loan to a Behringer Harvard entity for the development of an industrial park in Phoenix. Rio Salado Commerce Park totals 65 acres and is located at 3000 South 24th Street, one mile south of Phoenix Sky Harbor Airport.

“This loan demonstrates the strengths of our lending program. We provided essential funding to a top-notch investor and developer to build out Rio Salado as a high quality industrial park. Behringer Harvard has a compelling business plan catering to users and developers who require a superb location, and convenient access to the airport and major thoroughfares in Phoenix. We are pleased to provide much needed capital in a difficult financing environment,” says Bill Rafkin, principal of Rafkin Lending.

Once the utilities, roadways, landscaping, and welcoming entry features are completed, Behringer Harvard will sell individual lots to owner/users and developers. It is zoned for industrial use, which capitalizes on the desirability of its location, access, and visibility. “We expect sites to be available for sale in January 2012,” says Rafkin.

The loan has a three year term and is secured by a first lien. The loan-to-value ratio is within the boundaries set by Rafkin Lending’s underwriting standards. Rafkin Lending expects to make similar loans to seasoned investors and developers for worthy projects located throughout the country.

About Rafkin Lending

Rafkin Lending makes well secured loans to experienced borrowers seeking to acquire, rehab, or develop warehouses, office buildings, retail centers, apartments, and commercial land located in major cities throughout the US. We make loans ranging from $3 to $20 million, with terms ranging from one to five years. Our loans have no personal recourse to the borrower. As a “portfolio” lender, we invest our own money in the loans we originate and we hold onto them through maturity.

Rafkin Lending to Energize Texas Real Estate Markets

Independent lender to focus on D/FW, Austin and Houston, Texas Real Estate Markets

Dallas (April 18, 2011) – Rafkin Lending announces today that it has begun operations with a $25 million commitment to fund real estate loans in Texas. Additional capital commitments will be forthcoming.

The Dallas-based firm is focusing on financing warehouses, office buildings, retail properties, apartments, and land in the Dallas/Fort Worth, Houston, and Austin, Texas real estate markets. Funds are available for immediate access, according to Bill Rafkin, founder of Rafkin Lending. The firm was created to help fill the void left by banks and other lenders who are no longer financing speculative or turnaround real estate projects.

Rafkin emphasizes “speed of execution, certainty of funding, flexible terms, and absence of personal guaranties,” as the key to meeting borrower’s needs. Rafkin Lending will fund non-income producing properties on a non-recourse basis. Properties can be vacant or partially leased and Rafkin Lending’s “bridge financing” will facilitate property rehabilitation, market repositioning, and implementation of tenant leasing.

Individual loans will range from $1 million to $10 million with competitive interest rates, and will have terms of one to three years.

Rafkin, a 27-year real estate veteran, said he recognized the critical need for customized financing while buying and recapitalizing real estate projects during the most recent downturn. He notes that his firm provides a timely and welcome option for real estate investors, developers, mortgage brokers, and real estate brokers by offering loans that are unavailable elsewhere, especially for vacant buildings, land development, and turnaround projects.

Rafkin is a graduate of Harvard College and Harvard Business School. He began his real estate career in Dallas with the Trammell Crow Company, where he leased, sold, and financed office and warehouse properties throughout the country.

In the early 1990s, Rafkin formed Hampshire Capital and has since held senior financial positions at Westwood Residential, Koll Development Company, and most recently, Panattoni Development Company, where he managed an investment fund and all capital market initiatives nationwide.

Rafkin expects his lending firm will play a strategic role in the continuing recovery of Texas real estate markets. “New funding offered by Rafkin Lending will enable more deals to close and more bank loans to be refinanced than would be achieved otherwise in today’s tough financing climate,” he states.