Major non-QM player has expertise in constrained markets
Angel Oak Companies, a major player in the residential non-qualified mortgage market, has launched Angel Oak Commercial Lending, which will provide financing to commercial real estate owners, developers and investors.
Angel Oak Commercial Lending will provide short- and long-term financing for projects across the commercial sector, including multifamily, industrial, mixed use, retail, office, self-storage and other specialized segments.
Ben Easterlin — a 20-year veteran of the mortgage industry who has provided, arranged or consulted on over $3 billion of debt and equity placements — will serve as senior vice president of commercial lending at Angel Oak.
“There is a lending void in specific segments of commercial real estate, especially those under $5 million in size,” Easterlin said. “In many cases, banks may be constrained in their ability to make commercial real estate loans due to government regulations or corporate limitations on the types and amounts of loans they can issue.”
Angel Oak Commercial Lending hopes to replicate the success of the firm’s residential lending businesses, particularly in the non-QM market, where Angel Oak’s lending affiliates combined to issue over $1.1 billion in 2017.
“Angel Oak has an established track record of providing financing in constrained and dislocated markets and sees commercial lending as the next extension of this line of thinking,” Easterlin said.
Angel Oak Commercial Lending will provide access to debt markets for value-add transitional and stabilized projects, offering senior mortgage loans, mezzanine, and bridge loans on all commercial asset classes throughout the United States.
