Anchor Loans, LP, (“Anchor”) a leading direct private money lender in the nation in providing qualified developers with quick bridge financing for non-owner occupied properties (the “fix-and-flip” industry), announced today that it has surpassed $500 million in assets under management.
Calabasas, Calif. (PRWEB) October 16, 2015
Anchor Loans, LP, (“Anchor”) a leading direct private money lender in the nation in providing qualified developers with quick bridge financing for non-owner occupied properties (the “fix-and-flip” industry), announced today that it has surpassed $500 million in assets under management. The Southern California-based company has experienced rapid growth since successfully navigating the 2008-9 economic downturn – when many other real estate lenders experienced devastating losses.
In April, 2015, Anchor entered into a new partnership with Wafra Capital Partners, Inc., a U.S. registered investment advisor principally focused on investment vehicles in the equipment leasing, structured finance and real estate arenas. The partnership continues to provide Anchor with new capital to meet the needs of its existing client base as well as to facilitate ongoing expansion into new geographies nationwide.
“The half a billion dollar AUM threshold is a milestone for our organization; a company that started in 1998 with three people in a small office,” said Anchor Loans' President, Stephen Pollack. “At our current rate of growth, we anticipate the billion dollar mark to be achieved in the not too distant future.”
For an industry that is extremely fragmented with small local lenders funding between $5 and $50 million per year, Anchor’s attainment of a portfolio of $500 million is a significant achievement.
Anchor Loans has been profitable every year since its founding in 1998 and has shown exceptional performance for its entire history – especially through the real estate downturn and housing crisis of 2008-9. Anchor has originated more than 11,000 short-term loans totaling over $2.75 billion; this includes $477 million in originations in 2014 and a 2015 pace of $700 million. Anchor Loans’ experience, relationships and proprietary Fintech platform set it apart from other lenders in its ability to rapidly evaluate, underwrite and fund loans, typically in as few as 5-10 business days.
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