Calabasas, CA (PRWEB) May 05, 2015
Anchor Loans, Inc., (“Anchor”) the premier direct private money lender providing qualified developers with quick bridge financing for non-owner occupied property, announced today that it has partnered with Wafra Capital Partners Inc. (“WCP”), a registered investment adviser principally focused on managing structured finance and credit strategies.
The partnership will provide Anchor with an additional $ 500 million in available capital to meet the needs of the private lending marketplace and facilitate ongoing expansion into new territories nationwide. Anchor, which currently operates in 17 states, will remain in its California headquarters with current personnel under the new name, Anchor Loans, LP.
“Anchor conducted an extensive search to find the right partner to grow the business on a national scale. We are confident that Wafra Capital Partners was the best choice. Together, we are looking towards making great strides forward,” said Stephen Pollack, President of Anchor.
“We are pleased to partner with Anchor and are looking forward to growing the platform in both existing and new markets over many years to come,” said Michael Gontar, Chief Investment Officer of WCP.
About Anchor Loans
Profitable every year since its founding in 1998, and having shown exceptional performance through the Great Recession and housing crisis, Anchor has originated more than 9,000 loans totaling over $ 2.35 billion.
Anchor’s experience, relationships and in-house technology platform set it apart from other lenders in its ability to rapidly evaluate, underwrite and fund loans, typically in as few as 3-5 business days. In return for this rapid financing solution, Anchor borrowers pay interest rates on the loans ranging from 7.99% and 12.00%, generating highly attractive, risk-adjusted yield.