Pioneer Realty Capital, a Texas-based commercial mortgage intermediary and non-bank lender, has closed a $5.6-million new-construction loan for a Candlewood Suites in San Angelo, Texas. The loan was arranged by negotiating a debt structure with participating lenders designed to minimize risk during the construction period.
The Pioneer Realty Capital team worked with its network of capital and participating partners to address concerns over perceived risk exposure during the construction period. In an effort to mitigate this risk, Pioneer reportedly designed a capital structure that involved using a construction "bridge-loan" lender to fund the project during the majority of the construction phase, thus greatly minimizing risk to capital partners.
Pioneer Realty Capital arranges and closes commercial mortgage transactions for a national network of capital and participating partners.
The firm is headed by its founder and managing director, Charles Williams.