Racanelli Realty Services Commercial Real Estate Financing Division which will offer a range of flexible financing options accessed through Racanelli’s network of lenders.
Vice resident Nicholas E. Racanelli will head up Racanelli Realty’s new division. He will leverage his extensive experience serving in various executive roles with leading mortgage brokerage companies.
According to Racanelli Realty Services president Anthony Racanelli, “We’ve built our reputation on a foundation of being responsive to the market’s needs. Given our already extensive portfolio of services, from property management to brokerage, it was natural progression for us to be an even greater resource to our clients by assisting them in their property financing.”
“At Racanelli Realty, we have always tried to recognize voids in the existing real estate landscape,” said Nicholas Racanelli.
“In dealing with our current and potential clients, we realized there was a need for a mortgage broker
that could access multiple lenders on a borrower’s behalf. By assisting them with the application process, and negotiating with various institutions at one time on their behalf, I believe we have created a value-added proposition. We have seen this to be true in both purchase and refinance scenarios.”
Through its new division, Racanelli Realty Services will assist real estate property owners, buyers and investors with loans, including: conventional mortgages at fixed and adjustable rates (ARMs) for primary and investment properties, fixed-rate instruments, bridge loans, construction loans, equity and mezzanine financing, refinancing and 1031 exchanges. Racanelli will work with traditional lenders such as banks and credit unions, as well as insurance companies and other funding sources to provide the most suitably structured loan at favorable terms.
Since announcing the division, the company has already secured over $14 million for its clients; owners of commercial, industrial and retail properties on Long Island.