PeerStreet, an investment firm servicing the real estate sector, has recently announced its latest loan product for private lenders— Residential for Rent loans. PeerStreet explained that the new product has a 30-year term for borrowers to secure long-term financing for those looking for residential properties to rent.
PeerStreet reported that because of the longer-term nature of Residential for Rent loans, it is currently offering investment in this product to its pool of institutional investors—a group with a proven appetite for this asset class.
“For PeerStreet’s network of private lenders, this presents an opportunity to do more business with their borrowers, in addition to attracting new customers who need long term financing rather than short term bridge loans.”
While sharing more details about the product, Brew Johnson, Co-Founder and CEO of PeerStreet, stated:
“We’re very excited to be expanding our marketplace by offering Residential for Rent loans. This is a natural progression for us as a company as we increase our volume of transactions with institutional investors. Our move into this asset class is important to continue to support the growth of our private lending partners and help them better serve their borrowers.”
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