Victor Lipnitsky and Aron Yehuda had a shared vision of making capital more accessible to local real estate investors. This mission led them to start their real estate business, Pimlico Capital, in Baltimore in 2016. They recognized the need to provide short-term financing for investors and succeeded in making funding accessible and affordable to investors with and without experience.
They began in 2016 with two core clients that ultimately led them to their success. They attribute this success to two main principles: first, bring a personalized approach to customer relationships, and second, remain focused primarily on the city of Baltimore to grow a strong network of borrowers in this area.
The founders saw this strategy to be working after about 12 months and having the opportunity to work with many investors who are native to the Baltimore area. “One of the things I am most proud of is how our business has been able to focus on communities that can benefit from revitalization,” Aron said. Pimlico is proud to work together with capital partners like PeerStreet. This has enabled them to contribute to transforming neighborhoods in the heart of Baltimore City, surrounding Baltimore County, nearby Washington, DC, Philadelphia, and various other locations by providing competitive financing for real estate investment projects. Their five-star Google reviews are a testament to the success of the relationships Pimlico Capital builds with their clients.
Pimlico Capital was introduced to PeerStreet in the fall of 2019. After diving into an analysis of what a successful relationship between the two companies might look like, Victor and Aron flew out to California for an in-person meeting with PeerStreet’s management team. From there, a successful business relationship was born, with Pimlico Capital brokering long-term loans to be funded through the PeerStreet marketplace.
While Victor and Aron did evaluate other potential partners, there were several factors that led them to ultimately pursue collaboration with PeerStreet. Pimlico Capital considers itself a technology firm specializing in the real estate space. “I was impressed with the robustness and sophistication of the technology platform used by PeerStreet to do business with its brokers,” Aron said. “PeerStreet is dedicated to providing superb customer service to borrowers, which is a mindset at the core of Pimlico Capital’s business.”
This new partnership provided the opportunity for Pimlico Capital to offer a 30-year rental loan product. Pimlico Capital saw an immediate spike in demand, resulting in the growth of their rental business from $4M in 2019 to $25M in 2020 and the need to hire additional staff to accommodate the product’s popularity. Pimlico Capital looks forward to continuing to partner with PeerStreet and its borrowers to make capital for real estate investment both accessible and affordable. Pimlico Capital is proud of the role it has played in the revitalization of city blocks and knows it is just getting started. To date, Pimlico Capital has provided $45M in capital for properties in Baltimore City.
View Pimlico Capital for more information.