Korth Direct Mortgage Inc. announces that it has entered into a $100,000,000 warehouse line of credit.

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CORAL GABLES, Florida., April 5, 2022 /PRNewswire/ — Korth Direct Mortgage Inc. (“KDM”), a leading mid-term commercial real estate lender, today announced that the March 31, 2022it closed on a $100,000,000 warehouse with Signature Bank (“Signature”).

(PRNewsfoto/Korth Direct Mortgage)

The agreement provides access to a repurchase facility in an aggregate amount of up to $100,000,000 until 03/14/2025, unless the facility is terminated earlier, to allow KDM to close mortgages first-ranking preference on commercial properties. The flexibility this range offers KDM will allow the company to more quickly identify and close the types of high-quality, investment-grade and institutional-grade loans that characterize our lending model. Additionally, the warehouse line is expected to open up new opportunities when it comes to KDM’s MSNs.

“Having the means to access this line to close multiple high quality loans and bundle them allows us to provide more predictable closing dates to our borrowers and access mortgage-backed notes that are more attractive to our investors” , said Holly MacDonald-Korth company president and chief financial officer.

She continued, “We look forward to the opportunities that working with a partner like Signature will have for our business, as we seek to sustainably continue the tremendous year-over-year growth of our origination business.”

ABOUT KDM
KDM is a vertically integrated originator, lender, servicer, specializing in the securitization of commercial real estate debt based in Coral Gables, Florida. KDM specializes in lending on income-generating real estate, typically light industrial properties, warehouses, offices, multi-family and medical properties. We provide flexible institutional capital as a sensible lending partner and manage borrowers throughout the loan life cycle. KDM issues mortgage-backed notes (“MSN”) to fund its loans. MSNs are registered corporate bonds (“KDMMTG” on Bloomberg). You can find more information about KDM’s lending platform at www.kdmfinancial.com and visit our corporate website at www.korthdirect.com.

Caution regarding “forward-looking” statements

This press release contains statements that are deemed to be forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by them. Forward-looking statements often include the words “believes”, “expects”, “anticipates”, “estimates”, “plans”, “intends”, “plans”, “targets”, “potentially”, “likely”. , “projects”, “prospect” or similar expressions or future or conditional verbs such as “may”, “shall”, “should”, “would” and “could” and the negative form of these similar terms and words, although certain forward-looking statements may be expressed differently. Forward-looking statements also include, but are not limited to, statements regarding plans, objectives, expectations or consequences of announced transactions, known trends, and statements regarding future performance, operations, products and services. of KDM (hereinafter referred to as “we”, “us” or “our”) and its affiliates. Our ability to predict the actual results or effects of future plans or strategies is inherently uncertain. You should be aware that our actual results could differ materially from those contained in the forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause KDM’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. statements. Factors that could affect these forward-looking statements include, but are not limited to, KDM’s ability to effectively market the commercial loans that are the core of its business, the attractiveness of its lending products to potential borrowers , KDM’s ability to find suitable qualified institutional buyers with whom to place its mortgage-backed notes and thereby fulfill its repurchase obligations under the agreements with Signature, the ability of Signature and KDM to meet their obligations under the agreements, general economic and market conditions prevailing in the commercial mortgage and bond markets, KDM’s ability to compete with larger and better capitalized competitors and other risks detailed in KDM’s reports filed with the Securities and Exchange Commission of the United States. Although forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. All forward-looking statements are necessarily only estimates of future results. Accordingly, actual results may differ materially from those expressed or contemplated by particular forward-looking statements, and, accordingly, you are cautioned not to place undue reliance on such statements. In addition, any forward-looking statement speaks only as of the date on which it is made, and neither KDM nor Signature undertakes to update this press release or any forward-looking statement to reflect events or circumstances after the date at which the statement is made or to reflect the occurrence of unforeseen events or circumstances, except as required by applicable law.

https://www.korthdirect.com/
Contact: KDM: Jon Paul Lauria, (561) 876-5818, [email protected]

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SOURCE Korth Direct Mortgage

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