NEW YORK, November 2, 2021 / PRNewswire / – Pretium, a specialist investment management firm with approx. $ 30 billion of Assets, announced today that it has acquired Anchor Loans LP, the nation’s leading provider of finance to residential real estate investors and entrepreneurs, from affiliates of Wafra Capital Partners Inc. and other owners. The terms of the transaction were not disclosed.
Founded in 1998, Anchor Loans was the first institutional loan platform designed to serve the diverse funding needs of professional residential real estate investors. Over the past two decades, Anchor Loans has grown to become the nation’s leading financier for seasoned residential property sponsors through its bridge and construction products. Anchor Loans serves a professional customer base with 95% of loans being given to established borrowers who have completed more than 40 projects. To date, Anchor Loan has more than $ 10 billion in loans – more than any other lender of its kind.
“As we continue to experience a dynamic housing market characterized by an increasing shortage of the total housing supply and an insufficient stock of ready-to-move apartments, we see a significant increase in the investments that are required to upgrade today’s aging apartments and modernize our infrastructure . ” called Don Mullen, CEO and founder of Pretium. “Founded with the goal of solving the housing shortage in the US, Pretium today contributes to our local communities by creating attractive rental apartments, offering capital solutions to home buyers, and now providing loans to residential real estate investors and entrepreneurs.” . Andrew Pollock and the Anchor Loans team are leaders in the industry and we look forward to working with them to continue providing private capital solutions to the US housing market. ”
“This transaction is a unique opportunity to work with an organization that shares our passion for the importance of providing our communities with great homes and investments,” said Andrew Pollock, Chief Executive Officer at Anchor Loans. âWith Pretium’s resources, operational know-how and complementary business units, we see immediate opportunities for comprehensive collaboration that will naturally accelerate our growth and strengthen the services we offer our customers. At the same time, we remain well positioned to innovate in our lending programs and position our forward-looking business for continued long-term success. “
Upon completion of the transaction, Anchor Loans will continue to be managed by the Chief Executive Officer Andrew Pollock and the current management team and will remain based in Thousand Oaks, California.
American Equity Investment Life Insurance Company financed the acquisition as part of an expansion of its strategic partnership with Pretium. In addition, American Equity acquired approx. $ 1 billion of the loans made by Anchor Loans at the same time as they were closed.
Nomura Securities International, Inc. acted as financial advisor and Sidley Austin LLP acted as legal advisor to Pretium. Piper Sandler & Co. acted as financial advisor and O’Melveny & Myers acted as legal advisor to Anchor Loans.
Pretium is a specialist alternative investment company focused on US residential real estate, home loans, and corporate loans. Pretium was founded in 2012 to capitalize on long-term investment and credit opportunities resulting from structural changes, disruptions and inefficiencies in the economy. Pretium has built an integrated analytical and operational ecosystem within the US real estate, home loan and corporate loan markets and believes that its knowledge and experience in these markets create a strategic advantage over other investment managers. The Pretium platform has approx. $ 30 billion of managed assets to October 31, 2021 and employs around 3,000 people in 30 branches. More information is available at www.pretium.com.
About anchor loans
Anchor Loans is the nation’s leading lender to residential real estate investors and entrepreneurs with total financing in excess of $ 10 billion since 1998. Using advanced, intuitive and innovative technology, Anchor offers fast, reliable financing and an exceptional customer experience – forging long-term customer relationships and helping customers meet and exceed their business goals. More than 85% of Anchor’s borrowers are repeat customers, over 70% of the company’s new borrowers have been referred by an existing customer, and approximately 95% of the loans go to established borrowers who have completed more than 40 projects. On the Inc. 5000 List of Fastest Growing Private Small Businesses in the United States for two consecutive years https://www.anchorloans.com.
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