ATLANTA – (BUSINESS WIRE) –Angel Oak Business Loan, LLC (“Angel Oak”), a specialty finance firm committed to meeting the underserved financing needs of commercial real estate owners, developers and investors, announces the hiring of David Pike as Managing Director and Bob Forsythe in as Senior Managing Director. Both started working in early March and report to Co-Chairs Nik Chillar and Rick Gallitto.
Pike joins Angel Oak in his Newport Beach, Calif., Office and will oversee lending operations and expansion along the West Coast, focusing on mid-size and larger loan offerings. Pike has over two decades of experience in the commercial real estate lending industry, most recently as Managing Director of Cantor Commercial Real Estate. His focus on the West Coast complements Angel Oak’s prominent presence on the East Coast.
“Over the past few months, Angel Oak has rapidly expanded its commercial loan program, and I look forward to working alongside such a talented and motivated team,” said Pike. “There are huge opportunities in the western half of the United States. I look forward to bringing the innovative lending solutions Angel Oak offers to new and existing borrowers as it grows. ”
Forsythe will also operate out of the Newport Beach office, leading Angel Oak’s rapidly growing small balance loan program. Forsythe brings over 30 years of experience to Angel Oak, most recently as founding director of Pacific West CDC. Previously, he was COO of Lehman Brothers Small Business Finance.
Forsythe and the Angel Oak team will work to establish a low-balance commercial real estate wholesale loan program, allowing Angel Oak Commercial Lending to partner with lenders seeking to operate the company’s loan solutions. This is a natural iteration for Angel Oak, which has a well-established wholesale division in residential lending through Angel Oak Mortgage Solutions. The goal of the new program is to leverage local expertise, grow Angel Oak’s loan portfolio, and provide the infrastructure necessary to create beneficial investment solutions in the small balance industry.
“I am delighted to join Angel Oak Commercial Lending and create an incredible wholesale division that combines the technological expertise that Angel Oak offers with dynamic products and services for borrowers,” said Forsythe.
With offices and executives located in California, Georgia, Massachusetts and New York, the company’s broad reach enables it to deliver high-quality commercial real estate product offerings to borrowers across the country. As the economic impacts of the pandemic diminish and small businesses begin to rebuild after COVID-19, Angel Oak is bracing for increased demand in this niche market. Angel Oak’s growing talent and assets will enable the company to meet the needs of its current customer base and provide flexible options for new borrowers.
Angel Oak’s growth coincides with the implementation of innovative technologies to streamline the entire loan program. Key features include contributing information for underwriting, capturing data analytics, providing real-time feedback and portfolio monitoring, as well as quantifying ESG initiatives, a key focus for Angel Oak in such a way. more general. These adaptive tools enable effective and decisive action, shorten loan granting time and offer solutions to borrowers.
“The talent we recently added with David and Bob highlights our growth and expansion as we continue to build a strong team to meet our ambitious goals for 2021,” said Ben Easterlin, Head of Commercial Lending at Angel Oak . “From new technologies and initiatives to securitizations and wholesale efforts, we are excited about our future.”
Angel Oak Commercial Lending intends to more than double their team this year and is actively recruiting.
To learn more, visit www.angeloakcl.com.
About Angel Oak Commercial Lending, LLC
Angel Oak Commercial Lending is a specialty finance company providing solutions to meet the underserved financing needs of commercial real estate owners, developers and investors. The company quickly and efficiently provides access to debt markets for value-added transition and stabilized projects. Angel Oak Commercial Lending offers senior mortgages, mezzanine loans and bridging loans on all commercial asset classes across the United States.
For more information, please visit www.angeloakcl.com.