News Column

Middlemarch Partners, LLC Successfully Completes a $350 Million Debt Raise for Privlo

August 29, 2014



By a News Reporter-Staff News Editor at Real Estate Weekly News -- Middlemarch Partners, LLC announces its role as the sole advisor in the completion of a $350 Million debt commitment for Privlo, an online provider of consumer mortgage loans, in a transaction that was announced earlier this month.

Privlo provides private origination of residential mortgages, focusing on borrowers whose credit profiles do not conform to the requirements of traditional government-backed loans. The company was founded in 2010 and has originated over $28 Million of mortgage loans to date. The company is poised for substantial growth as it expands beyond its Idaho pilot into near-term target markets of California, Texas, Maryland, and Virginia. It expects to be present in 17 states by the beginning of 2015.

"It has been very gratifying to assist Privlo in securing its debt," said Demetris Papademetriou, one of three partners of Middlemarch. "The opportunity for us to advise an innovative online mortgage finance company to obtain such a large commitment is a perfect example of our ability to leverage a deep knowledge of the alternative lending sector with the expertise to craft highly structured debt securities." For Privlo founder Michael Slavin, securing this commitment was just as important. "We wanted to be a little eye-popping with it, to show we are in business," Slavin commented. "It is a huge commitment to a company just getting out of the base, though."

According to Papademetriou, the transaction included a New York-based Private Real Estate Investment Fund.

Middlemarch Partner Bruce Goldstein continued, "We didn't want to just find Privlo the capital it was seeking; we wanted to find the best partner for a company looking to build a new mortgage market for borrowers who have had difficulties securing lower cost mortgages. We are very proud of the work we did to find an investor for Privlo that can help it achieve its full potential."

Middlemarch Partners seeks to work with companies looking for well-structured and thoughtful solutions to their capital raising, M&A, and strategic partnering needs. Middlemarch is particularly active within the specialty finance, payments, and financial technology sectors where companies require sophisticated equity and debt investment solutions. The firm is capable of supporting mid-to-late stage venture and growth capital transactions ranging from $5 to $50 million and recapitalization transactions of $50 to $250 million. Partners Sasha Grutman, Bruce Goldstein, and Demetris Papademetriou have long track records of successfully supporting venture, growth capital, and growth buyout transactions at firms such as Goldman Sachs, Keefe Bruyette & Woods, Sandler O'Neill, TH Lee Putnam Ventures, Securitas Capital, Citigroup, and CashEdge, Inc.

For more information on Middlemarch Partners, LLC please visit www.middlemarchllc.com.

Keywords for this news article include: Mortgage, Real Estate, Middlemarch Partners Llc.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Real Estate Weekly News


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