 |

Overview
Credentrust Story
Customers
Partners
Management
Board of Directors
News
Careers
|
 |
FOR IMMEDIATE RELEASE - June 22, 2000
OINKE.COM JOINS FORCES WITH THE CORE NETWORK
Oinke's Internet Auction Market for Business and Commercial Real Estate Financing Added to the Variety of Services Offered by CORE
IRVINE, Calif., June 22, 2000-Oinke, a vertical online trading exchange that matches borrowers with lenders, announced today that it has joined forces with The CORE Network to offer commercial real estate financing online. CORE's affiliate commercial real estate broker members are in all 50 states, Canada, Mexico, Asia and Europe and employ several thousand people.
"Oinke is committed to establishing a seamless integration of the financing needed to support commercial real estate transactions," said Tom Markel, Oinke's Chairman and CEO. "Our alliance with CORE allows their property listings to be marketed with financing quotes from multiple lenders. Once a buyer is established, the financing phase will close with greater speed."
"We are excited about being able to close deals more quickly," said Scott Rickard. CORE's president. "Providing the buyers of our marketed properties with a multi-lender financing option has been of great interest to our member companies, and we believe Oinke's proprietary auction technology and extensive lender network is the best solution."
The CORE website www.corenetwork.org will contain a fully enabled co-branded version of the Oinke Auction Market. Members will be able to use the site to complete applications for all types of commercial lending, but it is expected that the primary use will be for the acquisition of commercial real estate. The individual broker or property buyer will enter the data and submit the loan to auction. Oinke's Financial Auction Technology matches the loan with the appropriate financial institutions. Interested lenders then competitively bid on the rate and terms, with the borrower selecting the winning bid.
About Oinke.com
Oinke provides the only Internet trading exchange connecting business and commercial real estate borrowers with qualified lenders in a secure auction environment. Its standardized online Auction Summary Application Package (ASAP) forms simplify the borrowing process for 63 different loan types, dramatically reducing typical loan paperwork and facilitating negotations with a worldwide pool of more than 150 lenders, including Wall Street firms, insurance companies and finance companies. Oinke specializes in equipment leases and business and commercial real estate loans ranging from $250,000 to $500 million.
Oinke, Inc., founded in September 1999, is headquartered in Irvine, Calif. Its website launched in February, 2000. Strategic partners include Moody's Risk Management Services, Integra Information, and Trans Union. For more information, visit the website at www.oinke.com.
About The CORE Network
The CORE Network, founded in 1996, is headquartered in Irvine, Calif. The firm has grown to become an international provider of commercial real estate services.
CORE offers clients comprehensive services in real estate investment, management, development, strategic planning, tenant representation, acquisition, disposition and finance. Varying client requirements are met by teams of real estate specialists selected from a growing body of member firms, yet with a single point of accountability.
Working together as a network expands both the breadth and depth of service and expertise available to clients. The CORE Network believes it is through the sharing of information and cooperative marketing that the level of service provided by all members is enhanced and their clients benefit from this collective effort.
Contacts:
Oinke
Tom Markel
949-784-8700 x122
CORE Network:
Scott Rickard
949-930-7577
|