Angel Oak Commercial Lending taps the wholesale market with new hires

Angel Oak Commercial Lending also plans to more than double its team this year as it expands into the wholesale market.

He enlisted commercial real estate professionals Bob Forsythe, as senior general manager, and David Pike, as general manager, to lead his expansion on the west coast. According to the company, Forsythe and the team at Angel Oak will work on setting up a wholesale loan program in the low-balance commercial real estate industry. This will allow Angel Oak Commercial Lending to partner with lenders looking to exploit the company’s loan offerings.

“This is a natural iteration for Angel Oak, which has a well-established wholesale division in residential lending through Angel Oak Mortgage SolutionsThe company said in a statement. “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.”

Forsythe will lead the company’s low balance loan program. The industry vet for 30 years moved to Angel Oak from Pacific West CDC, where he was a founding director. Previously, he was COO at Lehman Brothers Small Business Finance.

“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, he said.

Meanwhile, Pike – who has over 20 years of CRE experience – will oversee Angel Oak’s lending operations and expansion along the West Coast, focusing on medium and large loan offerings. span.

“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, and I look forward to bringing the innovative lending solutions Angel Oak offers to new and existing borrowers as it grows.”

Both will be based in Angel Oak’s office in Newport Beach, Calif. And will report to Co-Chairs Nik Chillar and Rick Gallitto.

“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.”

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