SOURCE: Omega Commercial Finance Corporation

Omega Commercial Finance Corporation

May 22, 2013 10:57 ET

Omega Commercial Finance Plans to Launch Omega Asset Backed Fund I

The Fund Adds an Additional Product to Their Commercial Property Financing Structure

MIAMI, FL--(Marketwired - May 22, 2013) -  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.

Operationally, OCFN's lending programs led by VP of Lending Holly Leide have already identified $25-Million in financing requests, which meet the Funds main two underwriting characteristics of loans having low leverage with high debt service coverage. The Fund's core investment objective is to achieve advantageous and consistent rates of return by providing short and medium term loans to borrowers primarily consisting of commercial real estate property owners when traditional financing is unavailable for acquisitions, refinancing, construction, development, rehabilitation and master planned subdivisions. Primarily, the Fund will seek to finance core assets, including office buildings, multi-family units, and shopping centers. The Loans will consist of senior-debt loans, mezzanine or subordinated loans, preferred equity, and other equity participation financing structures.

About Us:
Omega Commercial Finance Corporation is a publicly traded financial services holding company with up to $180-Million in assets under management through its interest in VFG Securities and VFG Advisors with our principal companies operating in the commercial real estate, finance, and capital markets sector. As a holding company, OCFN collectively along with its subsidiaries' management teams have a combined 50 years of experience and knowledge across these respective business lines. 

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This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Omega Commercial Finance Corp., its directors or its officers with respect to, among other things: (i) our expectations regarding revenues and earnings; (ii) our growth strategy and operating strategy; and (iii) our ability to attract new registered representatives. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," "project" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those projected in the forward-looking statements.

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