News Column

Oak Grove Capital Posts Another Record-Breaking Year

February 7, 2014

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Oak Grove Capital , a leading national provider of real estate financial services, announced that it had another record-breaking year by providing $1.7 billion of affordable, market rate and seniors housing financing in 2013, a 16 percent increase over its loan production in 2012. Since the original founders reacquired the Company in 2009, it has more than doubled its annual production volume. In 2013, Oak Grove Capital successfully executed its plan to grow and expand all aspects of its business. Both its Freddie Mac and FHA financing volumes increased by more than 150 percent over 2012, while its Fannie Mae business remained strong at almost $700 million in volume. Oak Grove also closed $800 million in affordable housing loans in 2013, a 44 percent increase over the prior year, continuing the firm's reputation as one of the top affordable housing lenders in the nation. Additionally, the Company expanded its bridge lending capabilities and broadened its reach nationwide. By year end, Oak Grove Capital had closed loans in 46 states and serviced a commercial real estate loan portfolio of approximately $9 billion . "2013 was a great year for us by any measure, and we foresee 2014 as being equally successful. Being the largest is not our goal; however, being the best is," said Dave Williams , co-founder and CEO of Oak Grove Capital . "Increased volumes are a by-product of the excellent customer service we provide. Consistently, 80 percent of Oak Grove's business comes from returning customers. That fact speaks loudly about the extraordinary levels of service and execution we offer." Brian Kelleher , Oak Grove's loan production group head, observed, "We are the beneficiaries of our customers' trust, and we truly appreciate their faith in us." Kelleher also credited Oak Grove's continued success to the accessibility of the company's founders and executives, adding, "At many other firms, the decision makers are out of touch with the day-to-day operations and can only be reached through several layers of management. There's no bureaucracy at Oak Grove; decision makers are available when our customers need them. One doesn't see that very often, if at all, in this industry." About Oak Grove CapitalOak Grove Capital is a nationwide mortgage lender specializing in affordable and market rate multifamily apartment complexes, seniors housing and healthcare facilities. Headquartered in St. Paul, Minn. , Oak Grove Capital services a $9 billion commercial loan portfolio and offers a product line consisting of Fannie Mae DUSŪ, Freddie Mac , FHA MAP and LEAN, as well as other commercial real estate funding options. Regional offices are located in Dallas , Boston , Tampa , Los Angeles , Chicago , Birmingham , Columbus, OH and Bethesda, MD . For more information visit www.oakgrovecap.com Keywords for this news article include: Real Estate, Oak Grove Capital . Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Real Estate Weekly News


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