CBRE Starts Small-Biz Lending Group
Monday, August 26th, 2013
By: Steve Goldman, CCIM
Image courtesy of cobizfinancial.com
By Bruce Haring
LOS ANGELES-CBRE Group has added an owner-occupied lending component to its capital markets services and hired two veteran executives to run it. The new Business Lending Group is also hiring sales people, underwriters and support staff and will be rolled out over the next few months.
The CBRE Business Lending Group will be run by Jim Pfitzinger and Dan Winzeler, who join CBRE’s Debt & Equity Finance Group. The service will be handled through the Small Business Administration’s 504 program and other lending sources. The Business Lending Group will originate, underwrite and close acquisition financing up to 90% on owner-occupied commercial properties with an appraised value of up to $15 million.
“CBRE’s new lending initiative with the SBA execution augments the company’s fully integrated capital markets service offering,” says Brian Stoffers, CEO, CBRE Debt & Equity Finance. “We look forward to leveraging our expertise and relationships in this area to enhance our platform and drive value.”
“Jim and Dan have extensive experience underwriting, closing, servicing and structuring commercial real estate debt, and bring invaluable knowledge about the SBA lending space from their time at GE Capital,” says Jeffrey Majewski, COO, CBRE Debt & Equity Finance. “They will be instrumental in enhancing our Capital Markets platform through this initiative.”
Pfitzinger and Winzeler join CBRE from EverBank Business Property Lending. They previously spent 17 years in various leadership and management positions at GE Capital.
Pfitzinger will act as managing director and chief risk officer of the Business Lending Group. He will oversee the underwriting, approval and closing processes for owner/user real estate financing via the 504 loan program and conventional lending products. He will be based in St. Louis, MO.
Winzeler will also be a managing director and serve as the group’s business and sales leader, driving strategy, managing and developing the sales team, and cultivating lending-partner relationships. He will be based in Orlando, FL.
As previously reported by GlobeSt.com, the five-story Westwood Terrace office building has been sold by CBRE to a joint venture for $54 million.
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