Regions to acquire California-based commercial real estate lender

0


[ad_1]

Regions Bank today announced the acquisition of a California-based low-balance commercial real estate lender.

Regions is expected to complete its acquisition of Sabal Capital Partners in the fourth quarter of this year. Terms of the contract are not disclosed.

Based in Irvine, Calif., Sabal is a leading originator of Fannie Mae and Freddie Mac low balance commercial real estate loans and has a growing presence in the origination of agency-less commercial mortgage-backed securities lending. The acquisition does not include the investment management activities of Sabal and the investment funds managed by Stone Point Capital LLC.

Regions plans to integrate Sabal into its real estate capital markets division. Sabal has generated nearly $ 6 billion in funding in the United States since its inception and maintains a current service portfolio of nearly $ 5 billion.

Joel Stephens, head of capital markets for Regions Bank, said the acquisition will allow Regions “to offer real estate solutions across the full spectrum of agency offerings.”

The regions will retain Sabal’s flagship offices in Irvine and Pasadena, Calif., As well as New York. Together with the existing production offices of Regions Real Estate Capital Markets, the combined platform will have 20 production offices across the country.

This month, Regions completed its acquisition of EnerBank USA, a Utah-based home improvement lender.

[ad_2]

Leave A Reply

Your email address will not be published.