CWCapital Expands on West Coast

CWCapital Expands on West Coast IRVINE, CA - CWCapital, a full-service national lender to the multifamily and healthcare real estate industries, today announced it is expanding its national multifamily lending platform via the acquisition of the origination and servicing assets of Sierra Capital Partners.

Sierra Capital Partners was founded in 2003 by Trent Brooks and Bryan Frazier, two of the preeminent Fannie Mae and Freddie Mac lenders serving the West Coast multi-housing market. Over the past 15 years, Brooks and Frazier have been directly involved in providing over $12 billion in multifamily financing, with a focus on conventional and tax-exempt debt financing, throughout California and the West Coast.

Prior to co-founding Sierra Capital, Trent Brooks served as President and Chief Credit Officer of Bankers Mutual, a leading, California-based lender specializing in Freddie Mac and Fannie Mae DUS multifamily financing. He has twice served as Chair of the Freddie Mac Program Plus Advisory Council, was Chair of the Fannie Mae DUS Advisory Council and is a past member of the MBA Steering Committee. He will now serve as Managing Director and a member of the CWCapital Loan Committee, and will work directly with President and CEO Michael Berman in shaping the strategic vision of the CW multifamily lending business.

Bryan Frazier previously served as President of Berkshire Mortgage Finance's West Coast platform, where he was responsible for all operational functions. Prior to his responsibilities as President, Bryan was Executive Vice President of Bankers Mutual, where he was responsible for all origination activities and served as a member of the Executive and Strategic Planning Committees. He has served on the Freddie Mac Program Plus Advisory Council, the Fannie Mae DUS Advisory Council and the Board of Directors of the National Multi-Housing Council. He will now serve as Managing Director, working with Donald King, National Program Director, and is directly responsible for the growth and development of CW's West Coast multifamily lending platform - securing a dominant market share in the Western Region.

Michael Berman, President and CEO of CWCapital, indicated that both CW and Sierra have a strong commitment to client services and integrity-based business practices, making the decision to align platforms a natural one. "We considered many alternatives as to how to expand our platform on the West Coast. When we met with Bryan and Trent we knew their business philosophy and deep client relationships were a solid fit, making the decision to join our platforms an obvious one. Trent, Bryan and Sierra are well known and well respected by borrowers, the Agencies and competitors. They and many members of their staff have extensive tenure in this industry - much like our CW staff - and we feel very confident that their relationships and reputation will be a tremendous asset as we further develop a leading full-service West Coast lending platform."

Trent Brooks added, "We are very aligned with CWCapital's commitment to customer service, dependability and adding value as a full service lender. We will continue to serve multifamily investors by combining our specialized expertise with a broader menu of financing solutions. The transaction comes at a great time for borrowers as we join the resources of CWCapital and Sierra Capital to create the premier multifamily lending platform in California and the Western Region."

Bryan Frazier commented, "We strongly believe that adding value to the way borrowers access their multifamily financing is of paramount importance in the way we do business. Through the alignment of our experienced team, together with the full compliment of multifamily lending programs, including Fannie Mae, Freddie Mac and FHA, we are very excited about the opportunity to expand upon the services we provide multifamily owners."

A leading Fannie Mae, Freddie Mac and FHA lender offering origination, underwriting and servicing through its network of national lending offices, CWCapital (CW) has closed over $10 billion in loans since 2002, and currently services a portfolio of $11 billion in loans in 48 states. With this acquisition, the CW agency lending platform employs 130 professionals in 10 locations across the nation. CW has been steadily growing its agency platform since 2007 through hiring, correspondent arrangements, joint ventures and acquisition. The Sierra Capital transaction gives the firm an established presence in a strong regional market. CW plans to hire additional production staff to grow this platform.

A comprehensive real estate finance and investment management company, CW Financial Services (CWFS) is comprised of a vertically integrated family of companies - including CWCapital LLC, CWCapital Investments and CWCapital Asset Management. CWFS employs approximately 300 professionals in 12 offices nationwide and is a subsidiary of Otéra Capital.
Source: CWCapital

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