Press Releases

Dominion closes $7,000,000 loan in Central California
Release Date: November 4, 2015
Dominion Mortgage Corporation, a subsidiary of Dominion Corporation, headquartered in Los Angeles, CA has reported the closing of a $7,000,000 bridge loan in central California, funded in two weeks without an appraisal, relying on their own internal valuation of the collateral pool. Dominion structured the financing as a senior loan of $5,600,000 with an additional sub-debt piece of $1,400,000. The loans were secured by both the same and different collateral and allowed for the borrower to prepay the loan without defeasance or yield maintenance.

Paul Horvitz', Dominion's President, elaborated further on this closing, saying "The borrower came to Dominion requiring both speed and accuracy, but was not willing to pay the typical "hard money" pricing for such a quick close. However, we settled on reasonable pricing that Dominion could execute on efficiently. Though the documentation was complicated because of the borrower's inter-related companies, our senior underwriter, Loren Thall, was superb in stream-lining our underwriting process to meet the client's requirements."

These internal funds were lent directly by Dominion and provided substantial cash out proceeds to the borrower.


Dominion closes $21,500,000 loan on the island of Oahu in the State of Hawaii
Release Date: October 22, 2012
Dominion Healthcare Financial, a subsidiary of Dominion Corporation, headquartered in Los Angeles, CA has reported the closing of a $21,500,000 loan on the island of Oahu in the State of Hawaii. Dominion underwrote the request for the borrower that resulted in a combination term loan and revolving credit facility for two skilled nursing buildings.
The loan was made for estate planning purposes and to pay off a maturing loan. The loan was written at an 80% loan to value.

Dominion Healthcare's President, Paul Horvitz, said, "This was a good opportunity with a strong sponsor. The remote location did not hinder the making of this loan. In fact, Dominion would consider other opportunities in the Hawaiian Island chain."

The funds were provided by a private finance company.

 

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