a commercial real estate platform offering accelerated and transparent capital, announced the launch of its Lev Lending platform, according to a press release shared with FinLedger.
The company says the new digital lending platform will act as its new direct lending arm and bring speed and transparency to commercial real estate (CRE) financing with transaction automation and management tools for borrowers and the broke.
The new service uses Lev’s existing expertise in artificial intelligence and brokerage to give clients a top-down view of CRE financing from quote to closing, specializing in permanent non-recourse loans on net leasehold properties (NNN ) single-tenant.
During the soft launch of the products, Lev Lending managed to secure several loans over $1 million, at three times the rate of traditional lenders, according to the statement.
“There are countless examples of complicated financial industries made simple by technology. In any case, the result is that the best funding is available for more sponsors with a truly modern experience, which is a win-win,” said Yaakov Zar, Founder and CEO of Lev.
“Finally, these changes are coming to CRE. We’re building a platform that not only makes life easier for today’s investors, but opens the door for people who wrote off this industry for being too complicated or analog. Today, great digital UX is absolutely essential to success, and CRE is no different. We are merging technology and expertise to bring CRE to invest in the digital age,” said Zar.
This launch is intended to enable Lev to expand its business nationwide across all asset types. By automating manual tasks, the company seeks to allow brokers and executors to focus on supporting clients.
Founded in 2019, Lev has closed $1 billion in CRE mortgages and grown its customer base tenfold in 2021 through this automation and continued growth. The company has raised $40 million since launch, with investments from notable investors including , , , , and others.
“Our objective is to become the crux of all CRE financing decisions. Today’s commercial borrowers demand fast digital experiences that mirror consumer processes. They want one for their commercial properties. Whether you’re a borrower using our marketplace for the best deal, or you’re a natural fit for NNN through Lisa, we’re here with a fast and beautifully designed lending experience,” Zar said.
In other recent proptech news, has hired its new CMO, Channing Fleetwood, after a long tenure at . also made its biggest tech acquisition to date, buying for $85 million in cash.