Industry

Real Estate

Company Type

Real Estate Lending

Size

$100 Million

Investment Type

Equity/Debt

For important risk and disclaimer information, Click Here.

Romano Capital

Overview

Romano Capital is a multifaceted real estate platform seeking $100 million to expand its short-term (12-24 months) real estate lending program to third-party developers


Property types: single family homes, townhomes, condominiums, multifamily rental and commercial properties


Operates in the fast growing and high-income regions of the Pacific Northwest


Large and growing pipeline of lending opportunities – no credit losses since inception (almost ten years)


Founded in 2003 as a mortgage broker by Kess Romano and his father Jerry, who has since retired – Kess and his brother Korban lead an experienced team

Romano Capital

Opportunity

According to the US Census, 12.3 million new households were formed in the US from 2012 through 2019, yet only 7 million single family homes were built during that time


Construction of multifamily properties remains strong to meet the demand in light of insufficient growth of single family homes


According to Forbes Magazine, US housing, America’s biggest industry, remains strong – home loan volume is breaking records, average sales prices are up 6% after 100 months of gains, and home inventory is tight, forcing half of all buyers into a bidding war

Romano Capital

Solution/Strategy

Romano was founded in 2003 as a mortgage broker and pivoted in 2009 to become an alternative investment provider – it is now a vertically integrated residential and commercial real estate developer and private money lender


15 completed real estate projects; five under construction; four in development


Currently funds projects and loans through nine equity and debt funds totaling $110 million


Eight equity funds have been liquidated, all with positive returns, and six debt funds have been liquidated, all of which met the original terms of the fund notes


Romano’s lending business provides short term duration loans (typically 12-24 months) to commercial real estate companies secured by first liens – includes assignments of rent, security agreements and fixture filings


Director of Lending, Stephanie Koch, has a 10-year real estate lending track record prior to joining Romano, with had no credit losses or delinquencies

Romano Capital

Lending Business

Target single-family and multi-family development and value-add properties in the Northwest


Loan types: commercial construction, land, land development and commercial property bridge loans


Loan sizes generally $500,000 to $3,000,000, with about a 65% average LTV


201 loans funded since inception in 2013 totalling over $140 million


Only two foreclosures (both resolved at a significant profit) and two other loans that needed additional extensions (both current with no losses expected)

Romano Capital

Management

Kess Romano

President/Principal/CEO

Co-founded Romano Capital in 2003 as a mortgage broker and expanded into real estate funds and development in 2009. Over 20 years of experience in all aspects of residential real estate


Involved in every aspect of fund-raising and management and the development process from negotiation to close


Underwrites every transaction. Graduated from George Fox University with BA in economics

Korban Romano

Director of Operations/Principal

Joined Romano in 2011 and has helped drive the growth of the company, specifically working to expand the core lines of business in lending and real estate development


Oversees cash management, accounting, compliance and reporting, including 30 LLCs


Directly oversees the Romano Capital Mortgage Fund

Romano Capital

Learn More About This Transaction Romano Capital
Thank you for your interest in Romano Capital. Please fill out your information and we will contact you shortly with more information about Romano Capital.

0 Comments

Leave a reply

Your email address will not be published.

*

CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

Sending

Log in with your credentials

Forgot your details?