|
|
 |
 |
 |
 |
|
|
|
News |
|
|
|
 Overview Credentrust Story Customers Partners Management Board of Directors News Careers |
 |
FOR IMMEDIATE RELEASE
IRVINE, CA. (February 7, 2001) --- CB Richard Ellis, the world market leader in real estate services,
and Oinke, Inc., the preeminent provider of Internet-based commercial finance solutions,
have announced a strategic alliance to offer business loans and equipment financing as a
value-added service to CB Richard Ellis clients through the company's Internet Web site.
Business loans and equipment financing from $5,000 to $50 million can now be sourced through
the CB Richard Ellis Commercial Finance Center on the company's Web site
(www.cbre.com).
The Commercial Finance Center provides access to a competitive Internet auction marketplace
consisting of more than 150 lenders. Lenders whose criteria match those of the loan request
bid on the borrower's financing needs.
Oinke provides the auction technology behind the bidding process and offers borrowers a
secure, paperless "vault" in which to upload and store their application information.
"With the 'Powered by Oinke' commercial financing solution, the CB Richard Ellis Commercial
Finance Center makes the borrowing process faster, easier, and more cost effective,"
said Thomas Markel, CEO, Oinke, Inc. "As the leading brand name in worldwide commercial
real estate, CB Richard Ellis fulfills our strategy of forming partnerships with the top
companies in major industry verticals," Markel said. "We believe Oinke's enterprise software
solution, risk assessment partners, and large lender network add economic value to companies
that share our vision of next generation commercial financing. The alliance with CB Richard
Ellis builds upon our strategy of reaching qualified commercial borrowers through the trusted
brands with whom they do business."
"The new CB Richard Ellis Commercial Finance Center complements the portfolio of products and
services we now offer our clients through the CB Richard Ellis Web site," added John Frager,
CB Richard Ellis senior vice president, Web Services Group. "It gives our real estate owners,
investors and occupiers one more reason to consider CB Richard Ellis as the premier real
estate services company in the world, and positions our website as the one-stop destination
for all of their real estate needs. In addition, the solution provided by Oinke demonstrates
our commitment to being on the cutting edge of technological and market-driven development."
Frager pointed out that all real estate financing continues to be handled separately through
L.J. Melody & Company, a CB Richard Ellis company that is one of the largest real estate
investment banking firms in the U.S. Over the past two years the Houston-based firm has
arranged $13 billion in commercial real estate mortgage debt and equity placement nationwide
and maintains an asset management portfolio totaling over $15 billion. Access to the
company's on-line lending portal is available through www.ljmelody.com. Also listed on the
site are over 100 correspondent lenders that L.J. Melody & Company represents.
About Oinke, Inc.
Oinke provides the only Internet trading exchange connecting commercial borrowers with
qualified lenders in a secure auction environment for commercial financing. This solution,
"Powered by Oinke," is licensed on a co-branding or private label basis to Internet-enabled
companies seeking to offer commercial financing to their business customers that have recurring
needs for capital. Oinke's standardized online Automated Summary Application Package (ASAP)
forms simplify the borrowing process for 75 different loan types, dramatically reducing typical
loan paperwork and facilitating negotiations with a worldwide pool of more than 150 lenders.
Oinke was the first Internet-based commercial finance company to offer Moody's Risk Management
Services credit scoring reports to its customers, and has subsequently formed partnerships
with Integra and Transunion. Oinke specializes in equipment leases and business loans ranging
from $5,000 to $50 million.
About CB Richard Ellis
CB Richard Ellis (NYSE:CBG) is the world's leading real estate services company. Headquartered
in Los Angeles with 10,000 employees worldwide, the company serves real estate owners,
investors and occupiers through some 250 principal offices in 37 countries. Services include
property sales and leasing, property management, corporate services and facilities management,
mortgage banking, investment management, capital markets, appraisal/valuation, research and
consulting. CB Richard Ellis had 1999 revenues of $1.2 billion. For more information about
CB Richard Ellis, visit the company's website at
www.cbre.com.
Contacts:
For CB Richard Ellis
|
(c) 2003 Credentrust Software, Inc. All rights reserved.