CIVIC Lands Multifamily Market Leader
REDONDO BEACH, Calif. (PRWEB) March 20, 2018 -- Civic Financial Services continues to disrupt the private lending space, this time courtesy of real estate and commercial lending executive, Brian Murphy.
Murphy has been named CIVIC's Managing Director of Multifamily Lending and brings more than 16 years of experience in the investment and lending arenas, most recently serving as Senior Vice President and Managing Director for Los Angeles based Wilshire Finance Partners. Throughout his career, Murphy has been a producer in wholesale, retail, and correspondent, as well as commercial, multifamily, and value-add bridge lending. In addition to sales and operations management, his extensive experience consists of underwriting, valuation, acquisition and development, and special situation loans that require risk mitigation or special structure.
CIVIC will now become the heir to Murphy’s esteemed background, with his singular focus on scaling multifamily to a new level. The private money lender, who recently surpassed $1 billion in historical funding, is bracing for Murphy’s expertise to serve as the catalyst to grow its multifamily division.
William J. Tessar, President of CIVIC, said, “Brian’s leadership, talent, and extensive track record of multifamily and business development has quickly made him a valued member of the CIVIC family. He has carved a first class reputation as a high producer and expert of structuring transactions, and we are honored he has chosen CIVIC as his platform to scale multifamily.”
In measuring CIVIC’s potential in the multifamily arena, Murphy said, “CIVIC is poised to be a national player in the non-bank multifamily bridge space. This is bigger than private money.” Speaking to the relationship with CIVIC’s parent companies, Wedgewood, Inc. and HMC Assets, LLC, Murphy added, “CIVIC is a critical piece of a vertical powerhouse, with the resources and major capital partners behind us to scale at the right pace.”
CIVIC currently offers multifamily lending for up to 20 units and will be expanding this soon, with 19,000 opportunity properties already identified in the markets being served.
“CIVIC has created the capital, platform and infrastructure to help scale multifamily in the states we lend in,” added Tessar. “We are committed to being a leader in the multifamily space. Following Brian’s appointment will come a large investment by CIVIC into the division, including, but not limited to, analysts, underwriters, appraisers and sales executives.”
In speaking to his decision to join CIVIC, Murphy said, “CIVIC is committed to growth. Its unique positioning and strategic, vertical approach breeds synergy and opportunity. You can feel it when you enter the office, you can feel it when you talk to the team members, and you can see it in the growth trajectory of the last four years.” Murphy added, “CIVIC has proven they are experts in residential rehab loans and construction management with some of the fastest draw request times in the industry, and I’m confident our borrowers will appreciate the efficiency our multifamily platform offers.”
For more information on CIVIC private lending, visit http://www.CIVICfs.com or call 877-472-4842.
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CIVIC FINANCIAL SERVICES is a private money lender, specializing in the financing of non-owner occupied investment properties. CIVIC was created by its parent companies, Wedgewood and HMC Assets LLC, to serve investors who don’t fit traditional lending criteria. Wedgewood and HMC, two of the most respected names in residential real estate, provide CIVIC with unparalleled valuation expertise in the real estate vertical as well as access to low-cost capital. With these resources, CIVIC is able to keep all operations in-house so loans are managed more closely, quickly, and efficiently.
Gina Comeaux, Civic Financial Services, http://civicfs.com, +1 424-336-7986, [email protected]
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