Sabal Starts Bridge Loans, Plans 100 HiresTuesday, October 30, 2012
Newport Beach-based Sabal Financial Group LP has launched a commercial real estate lending program that will offer bridge loans starting at $5 million and focus on properties along the West Coast.
Sabal is a four-year-old company that started with a focus on acquiring and managing portfolios of distressed debt.
The new bridge-loan program follows another for infill residential projects that started in June.
Sabal currently manages about $4 billion in assets and is amid plans for expansion.
Sabal has more than 80 employees now, and said it expects to add 100 employees through 2013.The firm said it is increasing it space at its Newport Center headquarters and an office in Pasadena to accommodate its growth.