Latest Omega Commercial Fin (OCFN) Headlines
VFG Holdings, Inc. Announces Termination of Agreement with Omega
PR Newswire - Mon Jan 06, 4:19PM CST
VFG Holdings, Inc. announced today that it had terminated effective August 21, 2013, the agreement entered in January, 2013, concerning the purchase by Omega Commercial Finance Corporation, a Wyoming corporation, of Miami Beach, Florida (OTCBB: OCFN), Commission file number 000-08447. Accordingly, OMEGA's subsequent disclosures in press releases and elsewhere concerning its ownership of 17% of VFG Securities, Inc. and VFG Advisors, Inc. is false. OMEGA owns no interest in those subsidiaries.
Omega Commercial Finance Targets Niche Lending Opportunities
ACCESSWIRE - Thu Nov 21, 8:23AM CST
The U.S. commercial real estate market, excluding parking lots, is estimated to be $11.5 trillion in size, according to a 2010 report by CoStar Group Inc. (NASDAQ: CSGP) CEO Andrew Florance. In terms of physical space, the same report estimates that the U.S. has over 56 square feet of retail space per person, which when multiplied by the 313 million people living in the US, points to an enormous market that affects the daily lives of just about everyone.
Omega Commercial Finance Raises $3 Million at $0.10 per Share
ACCESSWIRE - Wed Nov 06, 9:06AM CST
Omega Commercial Finance Corporation (OTCQB:OCFN), a publicly traded financial holding company, has made significant progress in establishing various lending subsidiaries and raising the capital necessary to finance their operations. Through the principal lending subsidiaries OCFN operates in the commercial real estate financing and capital markets space focused on originating and managing CMBS-style income producing loans, senior and mezzanine debt financing, and factoring receivables.
Omega Commercial Finance Corporation's Subsidiary & Lending Arm CCRE Capital LLC Executes $170-Million Construction Loan Document to Cayjam Development Limited
Marketwire - Tue Aug 06, 7:01AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) is a financial holding company with its core companies operating in the commercial real estate finance sector. Today they announced CCRE Capital LLC; one of its lending subsidiary's has executed loan documents with Cayjam Development Limited, an international development company, providing them with a five-year $170.5 Million Construction Line of Credit at a competitive Interest Rate of 12.0%. Operationally for OCFN, the loan is projected to generate $57.06-million in Gross Interest Income over the phase of 5-years plus $3.4 million in Origination Fees.
Omega Commercial Finance Corporation's Subsidiary & Lending Arm CCRE Capital LLC Provides $33-Million Construction Loan to International Developer
Marketwire - Wed Jul 10, 7:01AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) is a financial holding company with their core companies operating in the commercial real estate finance sector. Today they announced one of their lending subsidiary's CCRE Capital LLC has executed loan documents with Blue Steel International Ltd, a British Virgin Island development company, providing them with a four-year $33.4 Million Construction Line of Credit at a competitive Interest Rate of 10.5%. The loan is projected to generate $2-million in Gross Interest Income plus $670,000 in Origination Fees over the phase of 4-years. Construction is projected to start in the second half 2013.
Omega Commercial Finance Plans to Launch European Commercial Real Estate Finance Fund Focused on EU Banks' Distressed Mortgage Loan Market
Marketwire - Thu Jun 20, 7:19AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) will be launching a commercial real estate pooled fund focused on distressed European commercial real estate mortgages in select markets such as Ireland, Spain, Italy, Greece, and London. The proposed fund will be called Omega EU Fund II, LP and is estimated to launch sometime in the second half of 2013. It seems European banks have picked up the pace on loan modifications and the disposition of distressed commercial property loans as a means to primarily clean up their balance sheets similar to what U.S. banks started to do after the 2008 credit debacle.
Omega Commercial Finance Corporation Takes Advantage of Securities & Exchange Commission's Rule Change for a Long-Term Growth Strategy in the $100 Billion CMBS Sector
Marketwire - Wed Jun 19, 7:10AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) has previously announced they have a Direct Public Offering (DPO) available through a previous S-1 registration. As a result of this rule change, OCFN can now qualify under their OTCQB marketplace designation and may rely on quotes published on the SEC-registered Alternative Trading System, OTC Link(R) ATS, to establish a public market price when raising capital. Moreover, this allows OCFN to be more resourceful with small-cap investment-banking firms with the use of their Direct Public Offering shares and ultimately completing one-off transactions tailored around institutions that seek to own OCFN shares as a long-term investment.
Omega Commercial Finance Corporation's Lending Company Begins the Origination of Quality Loans for the Launch of Omega Asset Backed Fund I, LP
Marketwire - Thu Jun 13, 7:31AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) as previously announced will be launching its first commercial real estate pooled fund Omega Asset Backed Fund, I LP. The estimated launch date is by July of 2013 subsequent to an independent review by a top third-party analyst firm, which is currently preparing a comprehensive independent analysis report of Omega's Fund. The intent is to have the marketing of this Fund led by OCFN's financial arm, VFG Securities. OCFN's lending company Omega Capital Street and Omega CRE Group led by VP of Lending, Holly Leide, is currently originating $12 Million in financing requests for the Fund. The process should time up well with the Fund's July estimated launch date.
Omega Commercial Finance Plans to Launch Omega Asset Backed Fund I
Marketwire - Wed May 22, 9:58AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) will be launching its first commercial real estate pooled fund called Omega Asset Backed Fund, I LP. The Fund is estimated to launch by July of 2013, subsequent to an independent top third-party analyst firm that is currently preparing a comprehensive independent analysis of the Omega Asset Backed Fund. This procedure was recommended by OCFN's financial arm, VFG Securities. The report provides the Fund and any prospective investor with a complete analysis and risk assessment evaluation that is also distributed to all of the third-party analyst's clients, which are various broker-dealers, investment advisors, financial planners, investors, and banking institutions, who require the report to make adequate and accurate due diligence decisions on behalf of their respective constituencies and investors.
Omega Commercial Finance Corporation Implements $10MM Direct Public Offering Capital Markets Plan to Support Their Small Balance Commercial Real Estate Lending Product
Marketwire - Mon May 20, 7:01AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) has $10-Million available to them in the event they can sell the shares at the $0.10 per share price through their Direct Public Offering (DPO) filed in an S-1 registration. The intent is to use the proceeds from the DPO sales to support Omega Capital Street and Omega CRE Group's Small Balance Loan Program and for future acquisition targets consisting of privately held and operating commercial mortgage banking-firms, which typically facilitate small balance loan originations. In order to facilitate this process OCFN has created its own direct marketing program since a DPO is similar to an initial public offering (IPO) in that stock is sold to investors. However unlike an IPO, a company uses a DPO to raise capital directly with the investor and without the assistance of an intermediary such as an investment-banking firm.
Omega Commercial Finance Corporation Implements In-House Capitalization Strategy to Place up to $1BB in Preferred Stock for CRE Lending Operations
Marketwire - Mon Apr 01, 7:00AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) recently executed a Selling Agreement with VFG Securities ("the Broker") in which a minority stake was acquired to function as OCFN's primary financial arm to directly capitalize OCFN's lending companies, Omega Capital Street and Omega CRE Group. The Selling Agreement places VFG Securities as the selling/placement agent in connection with a Private Placement issuance of OCFN's 4.5% Series A Redeemable Cumulative Preferred Stock with a maximum offering amount up to $1-Billion. The investment offering proceeds from the sale of the preferred stock will exclusively and vertically fund the lending programs of OCFN's subsidiaries. The lending programs include, Omega Capital Street's CMBS-style fixed loan originations underwritten with proven and standard securitization criteria. Management believes the landscape of these CMBS style loans have now stabilized in select CBD's and there are many attractive opportunities for deploying capital for refinancing of maturi
Omega Commercial Finance Corporation Files 8-K Regarding $100-Million Equity Line From Lambert Private Equity LLC
Marketwire - Mon Feb 11, 3:00PM CST
Omega Commercial Finance Corporation (OTCQB: OCFN) a publicly traded financial holding company, announced today that it has signed a Standby Equity Purchase Agreement for a $100,000,000 funding equity line with Lambert Private Equity LLC. OCFN plans to prudently utilize these funds, at their discretion, to support operations for its commercial real estate financing subsidiaries, Omega Capital Street LLC, and Omega CRE Group LLC.
Omega Commercial Finance Corporation Secures $100-Million Equity Line From Private Equity Firm
Marketwire - Mon Feb 11, 8:24AM CST
Omega Commercial Finance Corporation (OTCQB: OCFN), a publicly traded financial holding company, announced today that it has signed a Standby Equity Purchase Agreement for a $100,000,000 funding equity line with Lambert Private Equity LLC. OCFN plans to prudently utilize these funds, at their discretion, to support operations for its commercial real estate financing subsidiaries, Omega Capital Street LLC, and Omega CRE Group LLC.
Omega Commercial Finance Corporation Acquires VFG Securities Inc., a Broker Dealer With Top Line Revenue of $3-Million
Marketwire - Tue Jan 29, 8:02AM CST
Omega Commercial Finance Corporation (OTCQB: OCFN) announces the acquisition of a full service Brokerage Firm and Registered Investment Advisor, VFG Securities Incorporated ("VFG Securities") and VFG Advisors Inc. ("VFG Advisors") for a combination of cash and stock. Omega closed on the transaction and has initially acquired a 17% ownership interest with the contractual option to take full control upon final approval by FINRA and upon facilitating the remaining cash and stock consideration for 100% control. VFG Securities is an established 29-year old full-service broker dealer based in Los Angeles, California that offers 9 lines of investment services through a top clearing firm. More importantly, VFG Securities offers an Alternative Investment platform that attracts real estate oriented investors, which is integral for the type of assets OCFN seeks to finance as a commercial real estate lender.
Omega Commercial Finance Corporation Conducts Meetings With Institutional Investment Firms
Marketwire - Fri Jan 25, 9:00AM CST
Omega Commercial Finance Corporation (OTCQB: OCFN) kicked off 2013 by recently completing its first road show of the year in New York City. Senior Management conducted 3 full days of meetings with various firms, including investment funds, investment banks and brokerage firms.
Omega Commercial Finance Corporation Signs Purchase Agreement for Corporate Headquarters Location Which Also Contains Prime Retail Space
Marketwire - Mon Dec 17, 3:30PM CST
Omega Commercial Finance Corporation trading under ticker symbol (OTCQB: OCFN) has just signed a Purchase Agreement to acquire a 12,000sq/ft mix-use property that is currently under restoration in the heart of iconic South Beach located on Washington Ave. OCFN is taking advantage of this re-surging commercial real estate market and buying a prime real estate mix-use property asset on South Beach with a strong value-added and opportunistic assessment. The building will house the company's executive staff on the top level in a contemporary 5,000sq/ft office space. The remaining square footage designed to occupy four separate 1,500 sq/ft, "A-Tier" tenant leased spaces will be located throughout the entire lower level. Strategically, due to the lack of attractable retail-space available in this historic area combined with quality office and business-professional space, it should demand top-end leasing rates. Management anticipates having the building delivered for the occupancy of its executive office space in
VFG Holdings, Inc. Announces Termination of Agreement with Omega
PR Newswire - Mon Jan 06, 4:19PM CST
VFG Holdings, Inc. announced today that it had terminated effective August 21, 2013, the agreement entered in January, 2013, concerning the purchase by Omega Commercial Finance Corporation, a Wyoming corporation, of Miami Beach, Florida (OTCBB: OCFN), Commission file number 000-08447. Accordingly, OMEGA's subsequent disclosures in press releases and elsewhere concerning its ownership of 17% of VFG Securities, Inc. and VFG Advisors, Inc. is false. OMEGA owns no interest in those subsidiaries.
Omega Commercial Finance Targets Niche Lending Opportunities
ACCESSWIRE - Thu Nov 21, 8:23AM CST
The U.S. commercial real estate market, excluding parking lots, is estimated to be $11.5 trillion in size, according to a 2010 report by CoStar Group Inc. (NASDAQ: CSGP) CEO Andrew Florance. In terms of physical space, the same report estimates that the U.S. has over 56 square feet of retail space per person, which when multiplied by the 313 million people living in the US, points to an enormous market that affects the daily lives of just about everyone.
Omega Commercial Finance Raises $3 Million at $0.10 per Share
ACCESSWIRE - Wed Nov 06, 9:06AM CST
Omega Commercial Finance Corporation (OTCQB:OCFN), a publicly traded financial holding company, has made significant progress in establishing various lending subsidiaries and raising the capital necessary to finance their operations. Through the principal lending subsidiaries OCFN operates in the commercial real estate financing and capital markets space focused on originating and managing CMBS-style income producing loans, senior and mezzanine debt financing, and factoring receivables.
Omega Commercial Finance Corporation's Subsidiary & Lending Arm CCRE Capital LLC Executes $170-Million Construction Loan Document to Cayjam Development Limited
Marketwire - Tue Aug 06, 7:01AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) is a financial holding company with its core companies operating in the commercial real estate finance sector. Today they announced CCRE Capital LLC; one of its lending subsidiary's has executed loan documents with Cayjam Development Limited, an international development company, providing them with a five-year $170.5 Million Construction Line of Credit at a competitive Interest Rate of 12.0%. Operationally for OCFN, the loan is projected to generate $57.06-million in Gross Interest Income over the phase of 5-years plus $3.4 million in Origination Fees.
Omega Commercial Finance Corporation's Subsidiary & Lending Arm CCRE Capital LLC Provides $33-Million Construction Loan to International Developer
Marketwire - Wed Jul 10, 7:01AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) is a financial holding company with their core companies operating in the commercial real estate finance sector. Today they announced one of their lending subsidiary's CCRE Capital LLC has executed loan documents with Blue Steel International Ltd, a British Virgin Island development company, providing them with a four-year $33.4 Million Construction Line of Credit at a competitive Interest Rate of 10.5%. The loan is projected to generate $2-million in Gross Interest Income plus $670,000 in Origination Fees over the phase of 4-years. Construction is projected to start in the second half 2013.
Omega Commercial Finance Plans to Launch European Commercial Real Estate Finance Fund Focused on EU Banks' Distressed Mortgage Loan Market
Marketwire - Thu Jun 20, 7:19AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) will be launching a commercial real estate pooled fund focused on distressed European commercial real estate mortgages in select markets such as Ireland, Spain, Italy, Greece, and London. The proposed fund will be called Omega EU Fund II, LP and is estimated to launch sometime in the second half of 2013. It seems European banks have picked up the pace on loan modifications and the disposition of distressed commercial property loans as a means to primarily clean up their balance sheets similar to what U.S. banks started to do after the 2008 credit debacle.
Omega Commercial Finance Corporation Takes Advantage of Securities & Exchange Commission's Rule Change for a Long-Term Growth Strategy in the $100 Billion CMBS Sector
Marketwire - Wed Jun 19, 7:10AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) has previously announced they have a Direct Public Offering (DPO) available through a previous S-1 registration. As a result of this rule change, OCFN can now qualify under their OTCQB marketplace designation and may rely on quotes published on the SEC-registered Alternative Trading System, OTC Link(R) ATS, to establish a public market price when raising capital. Moreover, this allows OCFN to be more resourceful with small-cap investment-banking firms with the use of their Direct Public Offering shares and ultimately completing one-off transactions tailored around institutions that seek to own OCFN shares as a long-term investment.
Omega Commercial Finance Corporation's Lending Company Begins the Origination of Quality Loans for the Launch of Omega Asset Backed Fund I, LP
Marketwire - Thu Jun 13, 7:31AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) as previously announced will be launching its first commercial real estate pooled fund Omega Asset Backed Fund, I LP. The estimated launch date is by July of 2013 subsequent to an independent review by a top third-party analyst firm, which is currently preparing a comprehensive independent analysis report of Omega's Fund. The intent is to have the marketing of this Fund led by OCFN's financial arm, VFG Securities. OCFN's lending company Omega Capital Street and Omega CRE Group led by VP of Lending, Holly Leide, is currently originating $12 Million in financing requests for the Fund. The process should time up well with the Fund's July estimated launch date.
Omega Commercial Finance Plans to Launch Omega Asset Backed Fund I
Marketwire - Wed May 22, 9:58AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) will be launching its first commercial real estate pooled fund called Omega Asset Backed Fund, I LP. The Fund is estimated to launch by July of 2013, subsequent to an independent top third-party analyst firm that is currently preparing a comprehensive independent analysis of the Omega Asset Backed Fund. This procedure was recommended by OCFN's financial arm, VFG Securities. The report provides the Fund and any prospective investor with a complete analysis and risk assessment evaluation that is also distributed to all of the third-party analyst's clients, which are various broker-dealers, investment advisors, financial planners, investors, and banking institutions, who require the report to make adequate and accurate due diligence decisions on behalf of their respective constituencies and investors.
Omega Commercial Finance Corporation Implements $10MM Direct Public Offering Capital Markets Plan to Support Their Small Balance Commercial Real Estate Lending Product
Marketwire - Mon May 20, 7:01AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) has $10-Million available to them in the event they can sell the shares at the $0.10 per share price through their Direct Public Offering (DPO) filed in an S-1 registration. The intent is to use the proceeds from the DPO sales to support Omega Capital Street and Omega CRE Group's Small Balance Loan Program and for future acquisition targets consisting of privately held and operating commercial mortgage banking-firms, which typically facilitate small balance loan originations. In order to facilitate this process OCFN has created its own direct marketing program since a DPO is similar to an initial public offering (IPO) in that stock is sold to investors. However unlike an IPO, a company uses a DPO to raise capital directly with the investor and without the assistance of an intermediary such as an investment-banking firm.
Omega Commercial Finance Corporation Implements In-House Capitalization Strategy to Place up to $1BB in Preferred Stock for CRE Lending Operations
Marketwire - Mon Apr 01, 7:00AM CDT
Omega Commercial Finance Corporation (OTCQB: OCFN) recently executed a Selling Agreement with VFG Securities ("the Broker") in which a minority stake was acquired to function as OCFN's primary financial arm to directly capitalize OCFN's lending companies, Omega Capital Street and Omega CRE Group. The Selling Agreement places VFG Securities as the selling/placement agent in connection with a Private Placement issuance of OCFN's 4.5% Series A Redeemable Cumulative Preferred Stock with a maximum offering amount up to $1-Billion. The investment offering proceeds from the sale of the preferred stock will exclusively and vertically fund the lending programs of OCFN's subsidiaries. The lending programs include, Omega Capital Street's CMBS-style fixed loan originations underwritten with proven and standard securitization criteria. Management believes the landscape of these CMBS style loans have now stabilized in select CBD's and there are many attractive opportunities for deploying capital for refinancing of maturi
Omega Commercial Finance Corporation Files 8-K Regarding $100-Million Equity Line From Lambert Private Equity LLC
Marketwire - Mon Feb 11, 3:00PM CST
Omega Commercial Finance Corporation (OTCQB: OCFN) a publicly traded financial holding company, announced today that it has signed a Standby Equity Purchase Agreement for a $100,000,000 funding equity line with Lambert Private Equity LLC. OCFN plans to prudently utilize these funds, at their discretion, to support operations for its commercial real estate financing subsidiaries, Omega Capital Street LLC, and Omega CRE Group LLC.
Omega Commercial Finance Corporation Secures $100-Million Equity Line From Private Equity Firm
Marketwire - Mon Feb 11, 8:24AM CST
Omega Commercial Finance Corporation (OTCQB: OCFN), a publicly traded financial holding company, announced today that it has signed a Standby Equity Purchase Agreement for a $100,000,000 funding equity line with Lambert Private Equity LLC. OCFN plans to prudently utilize these funds, at their discretion, to support operations for its commercial real estate financing subsidiaries, Omega Capital Street LLC, and Omega CRE Group LLC.
Omega Commercial Finance Corporation Acquires VFG Securities Inc., a Broker Dealer With Top Line Revenue of $3-Million
Marketwire - Tue Jan 29, 8:02AM CST
Omega Commercial Finance Corporation (OTCQB: OCFN) announces the acquisition of a full service Brokerage Firm and Registered Investment Advisor, VFG Securities Incorporated ("VFG Securities") and VFG Advisors Inc. ("VFG Advisors") for a combination of cash and stock. Omega closed on the transaction and has initially acquired a 17% ownership interest with the contractual option to take full control upon final approval by FINRA and upon facilitating the remaining cash and stock consideration for 100% control. VFG Securities is an established 29-year old full-service broker dealer based in Los Angeles, California that offers 9 lines of investment services through a top clearing firm. More importantly, VFG Securities offers an Alternative Investment platform that attracts real estate oriented investors, which is integral for the type of assets OCFN seeks to finance as a commercial real estate lender.
Omega Commercial Finance Corporation Conducts Meetings With Institutional Investment Firms
Marketwire - Fri Jan 25, 9:00AM CST
Omega Commercial Finance Corporation (OTCQB: OCFN) kicked off 2013 by recently completing its first road show of the year in New York City. Senior Management conducted 3 full days of meetings with various firms, including investment funds, investment banks and brokerage firms.
Omega Commercial Finance Corporation Signs Purchase Agreement for Corporate Headquarters Location Which Also Contains Prime Retail Space
Marketwire - Mon Dec 17, 3:30PM CST
Omega Commercial Finance Corporation trading under ticker symbol (OTCQB: OCFN) has just signed a Purchase Agreement to acquire a 12,000sq/ft mix-use property that is currently under restoration in the heart of iconic South Beach located on Washington Ave. OCFN is taking advantage of this re-surging commercial real estate market and buying a prime real estate mix-use property asset on South Beach with a strong value-added and opportunistic assessment. The building will house the company's executive staff on the top level in a contemporary 5,000sq/ft office space. The remaining square footage designed to occupy four separate 1,500 sq/ft, "A-Tier" tenant leased spaces will be located throughout the entire lower level. Strategically, due to the lack of attractable retail-space available in this historic area combined with quality office and business-professional space, it should demand top-end leasing rates. Management anticipates having the building delivered for the occupancy of its executive office space in
