Benworth Capital Expands to Washington, DC
The company has been offering its private and bridge lending services in Florida since 2008
MIAMI, FL – June 10th, 2019 –Benworth Capital, Florida’s top private lender for residential and commercial properties, announced today its expansion into the Washington, D.C. market, its first market outside of Florida. The firm offers short-term, first position mortgages starting at 12-month terms.
Benworth’s private lending products offer borrowers an alternative to traditional financing. Mainly, the differentiator is how the decision to approve a borrower’s loan request is made. With a private loan, the decision is driven by the demonstrated ability to repay an obligation rather than credit score history. At Benworth Capital, loan decisions are most typically made within hours and funding is provided in as quickly as 2 days.
“As we considered expansion, we looked for a market that not only affords us upside potential but one with the scale to endure the quality of our private loan offering,” stated Bernie Navarro, Founder and President of Benworth Capital. “The size and economy of Washington, DC make this geography the right market for our first out of state expansion.”
According to economist Stephen Fuller, the Greater Washington, DC area growth is expected to outperform the national average over the next 12 years; while Business Insider confirms the nation’s capital boasts the first-place as the top economy in the country among all states.
During 2018, median home prices in Washington, DC increased 4% to reach $375,000. As of April 2019, Zillow.com confirms that median home values were at $573,000 and the number of housing units sold was up 15 % compared to a year ago.
About Benworth Capital
About Benworth Capital Partners: Benworth Capital Partners, LLC, founded in 2008 and headquartered in South Florida, is a licensed mortgage lender and servicer specializing in private lending and bridge lending. The private equity firm offers short-term, first position mortgages for the purchase and development of residential, commercial and income-generating property in Florida. Benworth’s disciplined approach to financing real estate assets attracts funding participation from investors seeking strong returns from a low risk profile investment. For more information about Benworth Capital, visit http://www.benworthcapital.com.
# # #