PropertyFirst.com, which provides services and information to commercial property professionals and MortgageRamp.com, the commercial real estate financial services group, have agreed to combine their real estate, pricing and loan services. The aim of the partnership is to make property sales and pricing more efficient resulting in faster closing of deals.
PropertyFirst.com is to provide in-depth commercial real estate information and services to MortgageRamp.com customers in order for them to gain detailed property characteristics knowledge and to view rent rolls, financial information and other key decision-making facts. MortgageRamp.com will in turn offer PropertyFirst.com’s customers loan facilities through an integrated platform supported by customer services staff and other global resources.
MortgageRamp.com’s chief executive officer, Michael Greco, says: "We’re not simply linking our two web sites or establishing a marketing alliance, but creating an integrated transaction platform that consolidates the sales and financing of commercial property to set a new standard of efficiency in this industry."
PropertyFirst.com’s executive vice president, Donald Miller, says that the partnership will allow customers to pre-qualify for financing, compare lending options, complete the loan application form, obtain an appraisal and proceed to closing.
MortgageRamp.com was launched in April 2000 and has closed more than 30 loans with 70 currently in process, for a total $200m (£135m). PropertyFirst.com was launched in June 1999 and since it started its for-sale listings in September 1999 the company’s site has been posted $70m (£47m) in availabilities.
Jessica Jarlvi.
