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July 16, 2013
Directed Capital Resources has an additional $30 million available to buy distressed commercial mortgages.
The St. Petersburg company closed a $30 million credit facility with a private lender that represents a pension fund, said Chris Moench, CEO.
The new deal follows a $50 million capital raise last year and an agreement for up to $84 million in credit from Goldman Sachs.
Directed Capital, which buys, manages and resolves distressed commercial mortgages, has purchased more than 600 loans and than $700 million in assets since it launched in 2001, Moench said. That includes about $100 million in assets since the company launched its capital raise, he said.