Cloverhill Acquires Patch of Land and Invests Significant Growth Capital
News provided by
Share this article
Share this article
SHERMAN OAKS, Calif., July 29, 2021 /PRNewswire/ -- Patch Funding LLC ("Patch Funding" or the "Company"), formerly known as Patch of Land, the pre-eminent residential business purpose real estate lender, announced today a strategic asset-backed capital raise and an infusion of growth capital allowing the Company to expand its business and origination capabilities significantly.
Cloverhill Funding LLC ("Cloverhill") acquired the assets of Patch of Land and invested significant growth capital to further fuel growth for the newly rebranded Company. The investment comes at a time of skyrocketing new housing demand in the wake of stay-at-home orders and a new work-from-home trend.