Commercial real estate financing platform Lev has launched Lev Lending, what it says is the world’s first end-to-end digital lending platform for CRE, to simplify the industry’s complex lending process.
Lev Lending is the new direct lending arm of Lev, which originated nearly $1 billion in loans via its marketplace in 2021. Lev brings speed and transparency to CRE financing by streamlining the application process with automation and deal management tools for borrowers and brokers, along with powerful financing and closing technologies, the company said. Borrowers are automatically matched with the right lender through an intuitive interface.
Lev Lending utilizes Lev’s proprietary AI tech and industry expertise to rewire the entire CRE financing process from quote to close. The platform will initially specialize in permanent, non-recourse loans on single-tenant net lease (NNN) properties. In its soft launch period, Lev Lending closed multiple million-dollar loans on retail properties such as Dollar General and KFC in as little as 30 days, up to three times faster than traditional lenders.
“Over the last decade, most industries have been simplified by technology. Finally, these changes are coming to CRE lending,” said Yaakov Zar, founder and CEO of Lev. “We’re building a platform that not only makes life easier for current investors to get financing, but also simplifies the experience for the lender. It’s a win-win for all industry players.”
Lev’s technology infrastructure allows the company to scale its business nationally and support all asset types, the firm said.
“Our goal is to become the nexus of all CRE transactions. Today’s commercial borrowers are demanding fast, digital experiences that mirror consumer processes. They want a Rocket Mortgage for their commercial properties. Whether you’re a borrower using our marketplace for the best deal, or you’re a natural fit for NNN via Lev Lending, we’re here with a fast, beautifully engineered lending experience,” said Zar.
