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 through the hiring of Trevor Fase, Senior Vice President, and the establishment of a new lending office in Los Angeles. Fase is one of the industry's top originators of multifamily loans on the west coast and will report to Bryan Frazier, Managing Director for CW.
The new office will be staffed by Fase, as well as Tammi Warner, Senior Underwriter, who joined CW in February. Plans are to add additional staff to the team, including a junior originator, production analyst and underwriting analyst, in the coming weeks. This is the second California office opened by CW in the past 8 months. The firm acquired the assets of Sierra Capital Partners in July of 2009 and, in doing so, added 12 employees and an established lending team based in Irvine. With other recent hires, including the addition of loan officer and Vice President Thomas Meunier in November, the CW Agency lending platform now employs 115 professionals in 11 locations across the nation.
Donald King, Managing Director of the firm's Fannie Mae and Freddie Mac platform confirmed, "The strategic objective for 2010 and beyond is well-executed growth that will bring CW new opportunities. This includes new markets, new staff and new clients."
Trevor Fase is a 15-year veteran of the industry and most recently served as Vice President for PNC ARCS where he originated over $750 million in Fannie Mae and Freddie Mac business in 2009, which included a $400 million credit facility. He has originated over $2.8 billion in loans over the past 9 years. Fase has held various positions at ARCS Commercial Mortgage Co. and has extensive experience in multifamily and commercial conduit underwriting as well as multifamily originations. He holds a Bachelor of Science degree from California State University in Real Estate Finance.
Tammi Warner joined CW from Centerline Capital Group where she served as Vice President, Senior Underwriter. She held similar positions at Capmark Finance and ARCS Commercial Mortgage Co. and is a 12-year veteran of the commercial real estate industry with expertise in underwriting, appraisals and client services.
Michael Berman, President and CEO of CWCapital, stated, "We've been able to execute our expansion and production goals via the acquisition of some key talent with deep industry relationships and a commitment to client service that complements our own. 2010 is off to a tremendous start; it is the best start in the 38-year history of CW Financial Services. The lending platform is hiring staff, opening offices, and has established many new client relationships."
Heidi McKibben, Vice President and Head of Multifamily DUS Production for Fannie Mae, who has worked closely with CW on the development of its lending platform, added, "We are very excited about the expansion of CW's Fannie Mae lending platform, which will increase CW's service to existing clients and its appeal for new clients. CW has consistently delivered quality Fannie Mae loans to its multifamily clients, helping Fannie Mae provide liquidity, stability and affordability to the U.S. housing market. We look forward to a continued strong partnership."
Mitchell Kiffe, Vice President of Multifamily Production and Sales for Freddie Mac, also offered that, "CW has demonstrated an ongoing commitment to furthering its Freddie Mac platform and we look forward to continuing to partner with them in achieving their strategic goals for 2010 and beyond."
A leading Fannie Mae, Freddie Mac and FHA lender offering origination, underwriting and servicing through its network of national lending offices, CWCapital has closed over $11.5 billion in loans since 2002, and currently services a portfolio of $11.6 billion in loans in 48 states.
CW Financial Services is a unique, vertically integrated commercial real estate debt platform comprised of CWCapital LLC, CWCapital Investments LLC and CW Capital Asset Management LLC. Offering a full range of products and services including multifamily lending, servicing, special servicing, consulting and investment management, CW Financial Services employs approximately 330 professionals in 13 offices nationwide.