CWCapital Expands Lending Platform On West Coast

tal, a national lender to the multifamily and healthcare real estate industries, is expanding its national multifamily lending platform via the acquisition of the origination and servicing assets of Sierra Capital Partners. Sierra Capital Partners was founded in 2003 by Trent Brooks and Bryan Frazier, and over the past 15 years, Brooks and Frazier have been directly involved in providing over $12 billion in multifamily financing, with a focus on conventional and tax-exempt debt financing, throughout California and the West Coast. Brooks will now serve as managing director and a member of the CWCapital Loan Committee, and will work directly with President and CEO Michael Berman in shaping the strategic vision of the CW multifamily lending business. Frazier will serve as managing director and be directly responsible for the growth and development of CW's West Coast multifamily lending platform. With this acquisition, the CW agency lending platform employs 130 professionals in 10 locations across the nation. CW has been steadily growing its agency platform since 2007 through hiring, correspondent arrangements, joint ventures and acquisition. The company's commercial mortgage-backed securities (CMBS) special servicer rating has also been upgraded by Fitch Ratings from CSS1- to CSS1. The upgrade is based on the group's highly experienced asset management staff, its robust asset management technology platform and CWCapital's ability to successfully manage substantial portfolio growth, as demonstrated through its timely and thorough interaction with Fitch's CMBS surveillance group, the agency says. Also considered are the company's proactive surveillance team and CWCapital's low special servicing management and staff turnover in the last two years. As of March 31, CWCapital's servicing portfolio consisted of 1,108 loans totaling $10.11 billion. As of the same date, the company acted as primary servicer in 40 CMBS transactions, servicing 467 loans totaling $4.8 billion. CWCapital is currently named master servicer on one CMBS transaction totaling $27.47 million. SOURCES: CWCapital, Fitch

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