Access Point Financial (APF), a direct full-service lender and capital markets enterprise focused on the hospitality industry, announced its performance results from the third quarter.
The company closed 45 loans during Q3 with an asset valuation of $225 million, bringing APF’s year-to-date total to 105 loans closed, representing a market valuation of $600 million. The company has now closed 386 loans in the past 36 months, funding debt of $775 million, or $1.6 billion of asset value for its clients. More importantly, APF reported, via audited financial statements at year-end 2014 and interim 2015, that it experienced no bad debt or accounts 90 days past due or non-earning.
In June, Access Point Funding I 2015 A executed its ABS securitization (A-rated), comprised of 119 loans totaling $186 million and initial tranche.
“Albeit with tempered exuberance, I am extremely proud of our significant accomplishments during the Q2 and Q3 reporting period,” said Jon S. Wright, CEO of Access Point Financial. “The milestones we have reached and financial results produced for our investors in this post-recession era are a testament to our long tenured management team and fiercely loyal client base that continues to realize our ability to close in short order based on market driven velocity. We have a sustainable business model in both good times and bad, and not being an owner operator of hotel assets is evidenced by portfolio performance and our recent A-rated securitization. I am thrilled that APF continues to thrive and appreciate the recognition from Inc., the Atlanta Business Chronicle and The Association for Corporate Growth of our successful niche business dating back 25 years.”
APF completed its expanded physical build out to accommodate recent growth with 24,000 square feet at Ravinia 1 Office Park, where the enterprise has existed for the better part of 25 years.