ST. PAUL, MN - Oak Grove Capital, a leading provider of real estate financial services, announced today that Jeff Patton has joined the St. Paul-based mortgage lender as managing director of conventional/market rate housing. Patton will partner with Neil Cullen and be responsible for leading Oak Grove Capital’s conventional/market rate multifamily originations.
“Jeff has been a force in multifamily lending for 20 years,” said Neil Cullen, managing director at Oak Grove Capital. “Jeff’s history with Freddie Mac, Fannie Mae and FHA covers billions of dollars of successful financings, and his visibility, integrity and results-oriented approach make him an exciting hire for Oak Grove Capital.”
“Oak Grove Capital has a national presence in market rate multifamily lending, with $3 billion of conventional loans in its $8 billion servicing portfolio,” said Patton. “The company has established a market leader position in both seniors and affordable housing, and is bringing a similar focus to its market rate business. Based upon the size of the market rate sector, and Oak Grove’s established track record, I believe there is a tremendous opportunity to grow our conventional lending business with both GSEs. The entrepreneurial ownership group allows the company to consistently achieve superior customer service, and I’m thrilled to partner with Neil to get the results we’re all looking for.”
Patton comes to Oak Grove Capital from Grandbridge Real Estate Capital, where he was a senior vice president and directed the Agency (Fannie Mae, Freddie Mac and FHA) lending programs for Grandbridge. He is actively involved in multiple industry groups, including the National Multi-Housing Council and the Mortgage Bankers Association.
Oak Grove Capital is a nationwide mortgage lender specializing in affordable and market rate multifamily apartment complexes, seniors housing and healthcare facilities. Headquartered in St. Paul, Minn., Oak Grove Capital services a commercial loan portfolio in excess of $7 billion and offers a product line consisting of Fannie Mae DUS®, Freddie Mac, FHA MAP, GNMA and other commercial real estate funding options. Regional offices are located in Dallas, Tampa and Bethesda, Maryland.
Source: Oak Grove Capital / #Multifamily #Loans