ATLANTA, GA - ARA Finance, a joint venture of ARA and CWCapital LLC, a subsidiary of CW Financial Services, announced it has closed over $1 billion in multihousing loans. Launched in April of 2009, ARA Finance, through CWCapital, has provided multihousing investors with a full range of mortgage finance services, providing a successful combination of convenience, service and competitive terms. The venture marked the beginning of a new era for ARA which has, since its inception in 2003, focused solely on the brokerage of multihousing properties on behalf of an array of institutional, REIT, and private client sellers – a highly successful formula that has positioned them solidly as one of the top two national multihousing brokerages.
ARA Finance, through CWCapital, originally offered Fannie Mae, Freddie Mac and FHA programs to its clients. The platform has expanded in the past year to also offer life company lending solutions, as well as access to conduit, bridge, mezzanine and equity finance programs, further underscoring the company’s commitment to providing new, competitive sources of funding for its expanding customer base.
Tom MacManus, President and COO of ARA Finance stated, “We are pleased to have achieved this significant production milestone at such an early stage of our lifecycle on behalf of our stakeholders. The combined 2011 volume of $10 billion in multifamily sales and financing transactions by our owners at ARA and CWCapital position us well for future growth given our very strong competitive position in this attractive sector. The expansion into additional sources of funding in 2011 positively bolstered the platform’s diversity of offerings and with 16 established life company relationships (and other highly competitive capital sources), we are confident that ARA Finance will be well-positioned to offer its clients a more robust suite of financing options going forward.”
Gary Kachadurian, Chairman of ARA stated, “We want to thank our valued ARA clients who have given ARA Finance and our joint venture partner, CWCapital, the opportunity to achieve this $1 billion milestone. We look to continue meeting and exceeding our client expectations by cross selling these highly competitive financial products which are accretive to their yield and return objectives on acquisitions or refinancings.”
Michael Berman, President and CEO of CWCapital, credits the success of this venture to the strength and caliber of its two partners, CWCapital and ARA. “Our teams of loan officers, brokers and support staff exhibit a unique DNA of shared cultural values, intense client focus and an unwavering commitment to collaboration, which yield superior execution and financing terms for our clients.”
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.5 billion in real estate transactions since 2005.