Nectar
Headquarters: Atlanta
CEO: Derrick Barker
Website: Nectar
Founding date: 2021
Investment: $2.75 million in equity, $27 million in debt
Nectar
provides specialized financing solutions for professional short-term rental and
commercial real estate owners, managers and investors. We specialize in cash-flow-based financing and being the fastest and most flexible option in the
market for managing various capital needs.
PhocusWire coverage:
eba1.jpg "Co-founders Brittany Mosely and Derrick Barker")
Co-founders Brittany Mosely and Derrick Barker
Strategic goals for 2023
We
are laser-focused on identifying the top short-term rental owners and managers
in the country and being their go-to financing partner. We would like to form
strategic affiliate relationships with the lenders, agents and service
providers who are working with those operators and add meaningful economic
value to them by helping their clients grow and improve their portfolios. Our goal over the next year is to build a $75 million portfolio of advances to a
geographically diverse group of top-tier operators.
Lessons learned since founding
We
have found that as real estate entrepreneurs grow from “mom and pop”
to professional operators, their financing needs change and accelerate. During
this time period, the capital markets actually become less efficient and more
dilutive as the leverage that lenders provide decreases and friends-and-family capital begins to fall short of growing equity requirements.
Being able to provide fast and flexible capital along with having a network of
service providers to be able to help operators level up their financial
operations adds considerable value as these growth-oriented companies build
their portfolios.
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