Westmoreland Equity Fund LLC


[Total: 117    Average: 1.2/5]


westmorelandPhone: 267-675-7020

Address: 1650 Market Street, Philadelphia PA 19103

Website: http://westmorelandequity.com

States They Lend In: All 50

 

Welcome To Westmoreland Equity

Financing for Commercial Real Estate Projects

 

Westmoreland Equity Fund LLC offers unique opportunities for borrowers to obtain financing otherwise unavailable through conventional means.

Our unique and flexible Equity Participation Program for Real Estate Transactions is currently available for:

  • Commercial Properties
  • Capitalization and Lender Liquidity Solutions
  • Purchase of both Performing and Non-Performing Assets and Notes
  • Acquisition of Failed or Unfinished Projects
  • Construction Projects and Completion Loans
  • JV/Loan Hybrid – Lending with Participation in Profits
  • Rehab Opportunities for all Property Types
  • Joint Venture Development Opportunities
  • REO Acquisition Credit Facilities
  • Loans Against Existing Inventory
  • Short-Term Bridge Loans
  • Quick Funding, Plus In-House Analysis for Compliance
  • Construction Completion Loans

 

Property Types

Westmoreland Equity provides private financing via equity participation and joint venture arrangements for the following property and project types:

  • Construction Projects and Completion Loans
  • JV/Loan Hybrid – Lending with Participation in Profits
  • Rehab Opportunities for all Property Types
  • Joint Venture Development Opportunities
  • Bridge Loan Programs
  • Multi-Family
  • Office/Professional
  • Retail/Distressed Retail
  • Hotel/Motel/Resorts
  • Industrial
  • Restaurants
  • Daycares
  • Golf Courses
  • Gas Stations / Convenience Stores

 

Pricing and Fees

  • Lender Administration Fee

A deposit in an amount TBD of the lender administration fee is due upon the execution of the Letter of Intent.

 

  • Brokerage Fee

The borrower is responsible for the brokerage fee, and Westmoreland Equity Fund LLC may pay the brokerage fee directly from the mortgage advance on closing.

 

  • Lender Legal Fee

The Borrower is to pay a legal retainer in an amount TBD upon signing the commitment to cover and the expected balance of the lender’s legal fees plus disbursements on closing.

 

  • Closing Fee

Upon acceptance of the Commitment, the Borrower shall pay the Lender a non-refundable closing fee of $1,500.00 (minimum) to cover the cost of Title Fees.

 

  • Commitment Fee

Upon signing Commitment, the borrower shall pay to Westmoreland Equity Fund LLC a percentage of the Commitment fee, which is credited on closing

 

All Brokers are welcome and protected.

Broker Closing Details/ Fee Agreement:

  • Broker Fee Agreement to be submitted to Westmoreland within 48 hours of signing the commitment
  • Westmoreland will review and return Agreement for execution
  • Sign & return to Westmoreland Equity Fund LLC
  • Commission paid to Broker on closing
  • Closing Package returned to Westmoreland Equity Fund LLC within 5-10 days after closing.

Closings:

  • Closing Instructions are sent to attorneys
  • Borrower signs the loan documents
  • Funds are advanced.

Comments

  1. Christian B. says:

    Has anyone closed with these guys? I’m curious as to their ability to perform, and there are an awful large amount of fees up front. I’d be curious to hear from anyone who has indeed closed with them.

  2. It’s a very sophisticated upfront fee scam. It’s very telling they can’t provide a single client as a reference.

  3. AVOID THESE CON ARTISTS AT ALL COSTS!

  4. Looks like there are others who are speaking out about Westmoreland Equity Fund being a scam

    https://westmorelandequityfundisascam.wordpress.com/

  5. Westmoreland Equity Fund is a Scam says:

    Thanks, Mike, for posting a link to our page. If anyone has been scammed by Westmoreland, please email us and tell us your story. We’re collecting testimony to put these con artists away for good.

    westmorelandisascam@yahoo.com

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