INCA Acquires Arizona Lending Firm, Appoints VP
- Feb 12, 2018
INCA Capital, a private real estate financing firm based in Scottsdale, Ariz., has acquired Scottsdale Private Lending, a real estate investment funding company. Serving as the new vice president of INCA will be SPL’s founder, Phil Sollomi.
INCA and Scottsdale Private Lending have worked together in the state of Arizona for almost 10 years. Sollomi brings more than 30 years of real estate finance experience to the position. He has served as principal & founder at Scottsdale Private Lending for more than three and a half years. The company was created in 2014, and Sollomi originated more than $1 billion in private debt financing. Prior to that, Sollomi held a senior vice president position at one of the largest mortgage banks in Arizona, where he honed his skills as a loan originator, head trainer of new officers, underwriter and asset administrator. He holds a bachelor’s degree in business from Arizona State University.
At INCA, Sollomi will oversee loan origination and underwriting. As a direct lender, INCA sources its clients with simple or complex loan packages. The company has operated for more than 40 years in multiple states, dealing with a variety of asset classes, including residential, multifamily, office, retail, storage, industrial and land. INCA provides loan values of up to 75 percent, with loans from $250,000 to $20 million, terms ranging from three to 60 months and interest rates between 7.99 percent and 10.75 percent.
Image courtesy of INCA Capital