Wednesday, February 10, 2016
Patch of Land Gets $250M Commit From Loan Provider
Los Angeles-based real estate lending marketplace Patch Of Land said this morning that it has signed a deal with an un-named East Coast credit fund, to invest $250M in loans on its platform. Patcdh Of Land--which is led by Jason Fritton--said the deal calls for the credit fund to purchase loans in a "forward flow arrangement". Patch of Land provides loans to professional, real estate investors through its marketplace.