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We had a private money mortgage division when I ran Charles Dunn Company, so I know how vital the underwriting process is and Carrie, Don and the staff are simply the best in that arena. Their whole operation is 1st class and I’ve felt comfortable investing for my children, grandchildren and recommending them to other Dunn family members.

Joe Dunn,
Dunn Property Group

Focused
on Results

About Us

The Nikols Company is manager of Nikols Mortgage Fund, LLC, a private commercial real estate construction & bridge lender providing $5-40 million loans on California properties. We exclusively look for opportunities that bring value to both our borrowers and our investors.

Experience Counts

The Nikols Company is led by Carrie and Don Nikols, who have over 4 decades each of California-based real estate experience. Their expertise allows us to deliver lending opportunities with solid investor returns and minimal risk.

As CEO, Carrie Nikols  has over four decades of commercial real estate experience and has led Nikols Mortgage Fund since 2008, closing over $1.3 billion of loan commitments.

Don Nikols is Chairman of The Nikols Company and leads the investor side of Nikols Mortgage Fund, LLC, which he founded in 2007. Don has maintained a 95+ percent investor retention rate and is pleased to provide investment returns well in excess of publicly traded and bank interest bearing investments.

The rest of our small, nimble team ensures we make good on our track record of zero loan losses ever. You can meet everyone HERE.

Loan Services

The Nikols Company, Manager of Nikols Mortgage Fund, LLC makes short-term real estate bridge loans on properties in California. We focus on $5-40 million loans that are frequently below the radar of institutional lenders, which allows us to provide our borrowers with flexible alternatives to conventional lending institutions. We’ve closed over $1.3 billion in new loan commitments since our inception and we’ve had zero loan losses ever.

SERVING OUR BORROWERS

SERVING OUR BORROWERS

Our loans serve a wide range of borrower needs including acquisition/renovation, ground-up construction, opportunistic fast-close purchases, quick cash-out and infill entitled land. We lend against solid commercial real estate properties including industrial, apartment, triple-net single-credit retail, medical office, self-storage, small infill residential development and infill entitled land.
QUICK, COLLABORATIVE, FLEXIBLE

QUICK, COLLABORATIVE, FLEXIBLE

Our loan approval process is practical instead of rules-based. There are no minimum Sponsor credit guidelines or maximum loan-to-cost rules. Our appraisals are performed by experts we know in the relevant asset class and location, and we can close on a verbal valuation.
NO LOAN COMMITTEE (HONEST)

NO LOAN COMMITTEE (HONEST)

Our small team is experienced and agile, which enables us to make decisions rapidly and stick to them. Our “yes” is “yes”, which is why our loan portfolio is mostly comprised of repeat borrowers.
COMMITMENT TO COMPLETION

COMMITMENT TO COMPLETION

We are dedicated to working with our borrowers to accomplish project completion. We’ve only foreclosed on one property since our formation in 2007 and we’ve never lost a penny on any loan.

LOAN TERMS

Rate:

Fixed or Floating 1-4% over Wall Street Journal Prime - interest is only charged on balances deployed.


Amount:

Typically $5M to $40M


Term:

12-24 months with extension options


Origination Fees:

1-4 points, depending on term and average outstanding balance


Loan to Cost:

Up to 100% LTC


Loan to Value:

Up to 75% LTV


Collateral:

1st trust deeds


Location:

California


Representative Deals

80% of total project costs

$18,300,000

80% of total project costs

Multi-Tenant Industrial Condominium

Laguna Hills, CA

This loan facilitated the acquisition of a 100% occupied 32-unit multi-tenant industrial park adjacent to the highly desirable Irvine Spectrum. The business plan was to record the fully approved condominium map and sell the units off individually as the short-term leases rolled. Due to lack of supply in the market, the 24-month loan was fully paid off in 11 months.

94% of total project costs

$30,900,000

94% of total project costs

Apartment Construction to Bridge

National City, CA

This loan provided for the completion and lease-up of a 93% constructed, 92-unit multi-family project. We were the construction lender as well as the provider of the original land loan, which allowed for a partnership buyout and time to process building permits. We competed heavily for this bridge loan and won because of favorable terms as well as a positive borrower-lender relationship and a minor loan modification rather than entirely new documentation.

80% of total project costs

$20,377,027

80% of total project costs

Stabilized Industrial & Retail

Tustin, CA

This loan facilitated the separate acquisitions of the leasehold improvements as well as the leased fee land for a 69,930 square foot multi-tenant industrial building and retail pad. The Sponsor planned to re-tenant the retail pad with a new tenant at a much higher rental rate.

83% of total project costs

$15,282,707

83% of total project costs

Infill Coastal Single-Family Tract Construction

Leucadia, CA

This was originally an 18-month loan to facilitate the payoff of existing financing and construction of 12 single-family homes within walking distance to the beach in a highly constrained market. A bank had previously committed to funding this loan but pulled out of the market, and we were able to win the deal by providing attractive terms and surety of execution. Due to extreme delays by the city, an extension was needed. Fortunately, we were able to augment the loan due to value increases from $13,500,000 to $15,300,000, requiring no additional capital from the borrower, and extend it for an extra 12 months.

90% of total project costs

$12,000,000

90% of total project costs

Industrial New Construction

Riverside, CA

This loan provided for the construction of a 45,000 square-foot industrial building that will be marketed for lease to a tenant or marketed for sale to an owner-user. Due to the large land value increase over the past several years, our highly leveraged loan provided the borrower with a return of some capital spent on entitlements.

94% of total project costs

$28,500,000

94% of total project costs

Industrial Portfolio Purchase & Sell-Off

Van Nuys, CA

This loan facilitated the acquisition of seven industrial warehouse/distribution buildings totaling 99,906 square feet located at the Van Nuys airport in the city of Los Angeles. The business plan was to sell the buildings off separately for a significant profit above the original sales price. NMF closed this complicated loan in 28 days.

$11,210,000

Acquisition/Renovation of Shopping Center

Big Bear, CA

This loan provided for the renovation of an existing 83,000 square-foot shopping center previously owned and occupied by Kmart. At closing, the property was 92% leased to the credit tenants Marshalls and Tractor Supply Co and to the national chain tenant Grocery Outlet. The Sponsor plans to renovate and provide tenant improvements to the subject property.

86% of total project costs

$25,224,608

86% of total project costs

Residential Condo Construction

Carlsbad, CA

This loan financed the construction and sell-off of 17 single-level residential condominiums with ocean or lagoon views located within walking distance to the coastal village area of Carlsbad.

75% of total project costs

$11,450,000

75% of total project costs

Industrial Acquisition Renovation

Stanton, CA

This loan facilitated the purchase of a 100% leased, three-building industrial business park and provided funds for minor tenant and exterior improvements. The business plan was to bring rents to market as leases rolled and sell the property.

VIEW MORE REPRESENTATIVE DEALSView Less

Thanks to Nikols, we have been able to successfully compete for several acquisition opportunities by being able to commit to a quick, reliable close. In a couple of instances, the Nikols team has been able to move toward closing quicker than the sellers. It is a great benefit to have a lender that understands the big picture dynamics of the entire real estate process.

Brian Burke,
Burke Real Estate Group
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Investors

Nikols Mortgage Fund, LLC ( “the Fund”) was formed in 2007 to make conservative commercial real estate bridge loans that provide investors with returns well in excess of publicly traded and bank interest bearing investments. Since its inception, the fund has enjoyed a 95+% retention rate while still adding new investors to the pool. We consider it a great compliment when someone chooses to entrust us with their savings, and stewardship of our investors’ capital is always our first concern.

2024 Average Yield

  • 10%
  • 9%
  • 8%
  • 7%
  • 6%
  • 5%
  • 4%
  • 3%
  • 2%
  • 1%
4.37%
0%
4.21%
0%
4.41%
0%
4.98%
0%
1.84%
0%
5.04%
0%
5.76%
0%
8.33%
0%
2-YR US Treasury
10 -YR US Treasury
30 -YR US Treasury
Fidelity Money Market Fund (SPRXX)
Average 1-YR CD Rates
U.S. Corp. AAA Bond
• Baa Corporate Bond
Nikols Mortgage Fund, LLC*
*Assumes reinvestment
COMMUNITY

COMMUNITY

Our community of investors includes real estate executives, investment advisors, family trusts, family offices, self-directed IRAs and investment LLCs. Many of our investors have previously made active real estate investments but value the passive and reliable investment opportunity that the Fund provides.

SECURITY

SECURITY

With healthy markets, disciplined underwriting, and a diversified portfolio of conservative loans on California real estate, the Fund is built for capital preservation. We only lend on deals we understand, in markets we know, with exit strategies we believe in. We’ve made over $1.3 billion of loans and never lost a penny on any one.

RELIABILITY

RELIABILITY

Our investors can count on a monthly return that has averaged 6.86% since 2014. There’s no commission, so 100% of investment capital earns interest.

Nikols Mortgage Fund, LLC Summary

100% owned by its investors Monthly income distributions
Conservative loans with 1st trust deed collateral Short-term loans limit market exposure
Diversified portfolio of commercial loans across California

Track Record

0

2014-2024 Fund
Average Return

Property Fundings
and Commitments

0

Loan Losses

Meet The Nikols Company

Environmental Consultant

Don Nikols

Chairman of the Board & Founder

Don Nikols leads the investor side of Nikols Mortgage Fund, LLC, which he founded in 2007. In his role as chairman of the board, he oversees aggregation of capital and investor relations. His real estate career, which spans more than four decades, includes institutional and private money lending, entrepreneurial real estate development and brokerage of all types of capital from loans to project equity. Since 2005, his sole focus has been private money lending including over $1 billion in fundings primarily in Southern California.

As a principal he has formed numerous profitable development partnerships for apartments, condominiums, planned unit developments, single-family residences and retail shopping. As a broker he has arranged equity capital, preferred equity capital, equity-participating mezzanine debt, equity-participating 2nd trust deeds, structured finance transactions, construction loans and adjustable and fixed rate loans for development, renovation, purchase and refinance of individual project capitalizations ranging from $500,000 to in excess of $50 million.

Carrie & Don Nikols are benefactors of St. Michaels Abbey in Silverado, CA and have served as Chairs of the Stewardship Committee at St. John the Baptist Catholic Church in Costa Mesa. Don is on the consultive board of St. John the Baptist Catholic Church Parish School and is a regular Sunday lector at St. John the Baptist. Don has also served as Chaplain for Boy Scout Troop 911 in Huntington Beach, CA.

Don is a licensed California Real Estate Broker and licensed California General Contractor (B-1). He earned a Bachelor of Science degree in Business Administration-Accounting from California State University Northridge and holds a Certificate in Investment Real Estate from University of California Irvine.

Chairman of the Board & Founder

Carrie Nikols

Chief Executive Officer

Carrie Nikols leads loan origination, underwriting and servicing for the Fund. She has over four decades of commercial real estate experience and has led Nikols Mortgage Fund since 2008, closing over $1.3 billion of loan commitments.

Carrie’s commercial real estate experience ranges from institutional permanent lending and large balance bridge loans to smaller bank and private money construction and tailored transactions. As the top producing Region Manager for DaimlerChrysler Capital Services, Carrie originated and was responsible for a portfolio of $10 to $75 million highly leveraged commercial property bridge loans, all handled as agreed with no defaults. She has also pioneered various loan structures and product types including mezzanine loans, tax-exempt bond letter of credit enhancements with taxable tails, assisted living facilities, self-storage facilities and single-tenant biotech properties. Carrie has also written approximately 50 income property and residential subdivision appraisals as a state certified appraiser and MAI candidate.

Carrie serves on the board of the UCI Center for Real Estate. Carrie & Don Nikols are also benefactors of St. Michaels Abbey in Silverado, CA and have served as Chairs of the Stewardship Committee at St. John the Baptist Catholic Church in Costa Mesa. Carrie is on the consultive board of St. John the Baptist Catholic Church Parish School and is a regular Sunday lector at St. John the Baptist.

She holds a California Real Estate Sales license and graduated Magna Cum Laude from the University of Southern California with a Bachelor of Science Degree in Business Administration-Real Estate Finance.

Chief Executive Officer

Adam Deermount

Executive Vice President, Portfolio Manager

Adam Deermount is responsible for overseeing the Nikols Mortgage Fund loan portfolio, managing loan closings, construction draws, servicing and modifications.  He tracks construction and development progress, project timelines and budgets, and works with borrowers to address potential problems before they arise.

Prior to joining Nikols, Adam served as Chief Investment Officer at Ramser Development Company where he led the acquisition and asset management teams focused on building a nationwide vehicle storage platform. Deermount was a cofounder of RanchHarbor where he focused on acquisitions and capital raising activities for value-add multifamily, industrial and self-storage properties. Deermount also co-founded Landmark Real Estate, a real estate capital advisory firm disciplined in finance and private equity, where he successfully advised clients on over $1.3 billion of capital transactions across all asset classes.

Deermount was an advisor to State Street Bank on the restructuring of a $550 million land and development loan. He also served as a bankruptcy consultant to Hogan-Webb, LLC, the chief restructuring officer of LandSource Holding Company, a $2.6 billion land development company owned by Lennar Homes, LNR Partners, and CalPERS. Deermount’s experience also includes roles with California National Bank, TA Associates Realty and Merrill Lynch Capital in the Commercial Real Estate Finance Group. He has also been an adjunct professor in the MBA Real Estate Finance program at the UCI Paul Merage School of Business since 2021.

Deermount graduated from Tufts University in Boston where he was a 2001 collegiate All-American and national collegiate sailing champion. He is an active member of Newport Harbor Yacht Club and has held numerous leadership roles. He was Fleet Captain in 2018 and 2019 and is a member of the Board of Directors. Deermount resides in Newport Beach with his wife and two daughters

Executive Vice President, Portfolio Manager

Chris Adams

Interim Controller

Chris Adams is responsible for investor distributions, investor relations, financial reporting and tax/regulatory compliance as it relates to the Fund. He has over a decade of experience working in CFO, Controller, and Senior Property Accountant roles for local commercial real estate family office companies including Shea Properties, Lyon Living, Doug Wetton Properties, Pres and DMP.

He holds a Master of Business Administration from UC Irvine.

Interim Controller

Chris Geletka

Executive Vice President, Portfolio Manager

Chris contributes to the oversight of the Nikols Mortgage Fund loan portfolio, helping manage loan closings, construction draws, servicing and loan modifications. He tracks construction progress, project timelines and budgets.

Prior to joining Nikols, Chris served as Vice President, Loan Originations in the Los Angeles office of Centennial Property Finance (owned by Centennial Bank based in Arkansas). Prior to that he was Senior Associate at Pilot Real Estate Group, a $100M family office based in Greenwich, CT seeking high risk-adjusted returns from lower middle-market credit, transitional assets and development opportunities on both the debt and equity side. While at Pilot Chris identified, structured, underwrote and asset managed bridge loans as well as equity investments.

Chris holds a Master of Science in Real Estate Finance & Investment from NYU’s Schack Institute of Real Estate and a Bachelor of Science degree in Business Administration from USC.

Executive Vice President, Portfolio Manager

Penny Long

Senior Vice President, Loan Administrator

Penny is responsible for processing, coordinating and closing new loans as well as modifying and monitoring existing ones. She liaisons with title and escrow, borrower and lender counsel, brokers, third-party vendors and F&M bank, the Fund’s credit line lender.

Before joining Nikols, Penny spent 15 years at KBS Realty Advisors, a publicly traded REIT based in Newport Beach, as a senior closing associate. She also worked as a real estate and corporate paralegal at The Steak n Shake Company and spent years working at title and escrow companies, including First American Title Company and Chicago Title Company.

Penny holds a Bachelor of Arts degree in Arts History from the University of California, Santa Barbara.

Senior Vice President, Loan Administrator

Ana Quiroz

Construction Draw Administrator

Ana Quiroz is responsible for handling all construction draws, including reviewing, processing and obtaining necessary backup, including mechanic lien releases. She also requests and reviews construction draw progress inspections and title reports. Additionally, she sets up property account wires and checks, reconciles property accounts, compiles and prepares reports for our annual audit and supports the company with administrative tasks.

Before joining Nikols, Ana spent 20 years as Accounts Payable Supervisor at Taylor Morrison, a public home builder based in Scottsdale, AZ. During her time there she executed payments, handled a high volume of invoices and expense reports, resolved issues with invoices and lien releases from subcontractors, and compiled monthly, quarterly and annual reports.

Construction Draw Administrator

Sydney Nikols O’Toole

Director Of Communications

Sydney Nikols O’Toole directs a wide variety of communications for the company, including designing and executing marketing campaigns, editing and distributing investor reports, liasoning with vendors and consultants, and working with various advocacy groups on industry-relevant political concerns like affordable housing. Sydney also assists with scheduling, organizing and executing day-to-day company tasks.

Sydney holds a BFA in Writing, Literature & Publishing from Emerson College in Boston, which specializes in communications and the arts. She is also a graduate of the improv and sketch comedy programs at Upright Citizens Brigade and has a background in comedy and TV writing.

Director Of Communications

Michael P. Simondi

Real Estate Attorney

Mike Simondi has documented almost every loan that the Fund and all related Funds have closed since the Fund’s 2007 inception.

Prior to forming Michael P. Simondi & Associates in 1996, he was Partner-In-Charge for Real Estate for the Orange County Office of Morgan Lewis & Bockius; Partner for Real Estate for the Orange County Office of Memel, Jacobs & Ellsworth; and Associate for Real Estate and Tax for the Orange County Office of Meserve, Mumper & Hughes. He was also Tax Accountant for Price Waterhouse & Co. and Arthur Young & Co.

Mike holds a J. D. from University of California, Hastings College of Law; an M.B.A. from University of California Berkeley, Accounting Emphasis; and a B.S. from University of California Berkeley, Accounting Emphasis. He and his wife, Stacy Simondi, CPA, have been investors of the Fund since 2008.

Real Estate Attorney

Dennis Carpenter

Construction Progress Inspector Project Cost Analyst

Dennis and his team at Financial Construction Inspections, Inc. (FCI) began conducting all Fund construction progress inspections and project cost analyses in 2019 when Robert Lascelles who had done the Fund’s construction progress inspections since 2014 moved to Washington State.

Dennis founded FCI in 1992 after 9 years with Security Pacific National Bank as VP/Construction Inspector for the Southern California, Arizona, Colorado & New Mexico areas. His experience includes large shopping malls, master planned residential developments, a hangar / training facility for a major air carrier, a $115,000,000 apartment project in Marina del Rey and a $75,000,000 high rise apartment complex in downtown San Diego. Prior to his construction progress and cost analysis work Dennis put in 12 years of direct construction experience for residential, commercial and industrial projects.

Construction Progress Inspector Project Cost Analyst

Robert C. Lascelles

Environmental Consultant

Robert has provided environmental reviews and reports and construction inspections for The Fund and all related Funds since 2008 through his firm, Technical Advisory Group, Inc.

Robert was Vice President, Technical Services, of Citicorp Real Estate, Inc. from 1984 to 1997. There he was a construction disbursement inspector for projects throughout California and adjoining states, and participated in development of the lender’s response to environmental risks. Robert then headed the environmental review department from 1997 to 1999 as Vice President, Technical Advisory Services, of Franchise Mortgage Acceptance Company and from 1999 to 2002 was Senior Vice President, Technical Advisory Services, of Bay View FMAC.

Robert holds a B.S. in both Construction and Architecture from California Polytechnic State University, San Luis Obispo. Robert has been an investor of the Fund since 2013.

Our Location

4675 MacArthur Court, Suite 500
Newport Beach, CA 92660

License Number

California Finance Lender
License #603F152

Contact Us

    Send a message





    The Nikols Company, Manager

    4675 MacArthur Court
    Suite 500
    Newport Beach, CA 92660

    Don Nikols, Chairman of the Board/Founder

    (949) 474-8488

    Email Don Nikols

    Carrie Nikols, Chief Executive Officer

    (949) 474-8666

    Email Carrie Nikols

    Adam Deermount, Executive Vice President, Portfolio Manager

    (949) 996-4674

    Email Adam Deermount

    THINK Together
    The Nikols Company is pleased to make a contribution from the proceeds of each loan to THINK Together, providing high quality academically-oriented after school programs for K-12 students regardless of race, creed, or socioeconomic status. www.thinktogether.org

    Think Together California MBA UCI Paul Merage School of Business