Dunmor, Newfi Announce Partnership To
Focus On RTLs
Newfi to invest in Dunmor's business purpose bridge lending operations
Two national lenders have teamed up to meet the growing needs of investors and developers seeking residential transitional loans (RTL).
BARH Dunmore, LLC, which operates as Dunmor, has partnered with Newfi Lending, announcing a new arrangement in a press release Wednesday.
“This transaction will allow Newfi to invest in Dunmor’s business purpose bridge lending operations with a number of milestones structured to align and strengthen the Newfi-Dunmor relationship over time,” the announcement reads. “Separately, Dunmor has entered into an agreement with an offtake partner, securing hundreds of millions of funding capacity with room to upsize as the business grows.”
Dunmor’s focus is in the RTL sector, financing bridge loans, fix-and-flip loans, and ground-up construction financing.
The company’s partnership with Newfi underscores its commitment to supporting real estate investors in the residential space, according to CEO Franck Ruimy.
“Our team has created a remarkable platform and brand, and we are now set to embark on a new growth phase,” Ruimy said. “These partnerships position us to continue delivering the high level of service our clients expect from us, complemented by even more robust funding solutions at highly competitive rates.”
“We are excited to partner with Dunmor,” Newfi CEO Steve Abreu said. “We continue to be impressed by the leading technology Dunmor has created for the RTL industry.”
