WORLD PROPERTY CHANNEL ®

Michael D. Berman

(NEEDHAM, MA) -- CWCapital, a 19-year-old subsidiary of privately held CW Financial Services and strongly backed by a Canadian lender, reports it closed over $1.3 billion in loans with borrowers in the multifamily and healthcare real estate industries in 2009.

Company officials hailed the performance in what continues to be largely a down commercial and multifamily real estate market.

CW Capital president and  CEO Michael D. Berman said over $1 billion of CW's loans closed were originated through the firm's Fannie Mae and Freddie Mac programs, "representing a considerable increase in CW's national market share of Fannie Mae and Freddie Mac originations."

FHA originations also reached an historical high for CW, with closings in 2009 reaching over $330 million.

"The platforms are expected to continue to grow at a record pace throughout 2010, with current projected loan closings in excess of $2 billion for Fannie Mae, Freddie Mac, and FHA," Berman says.

"This unprecedented volume is anticipated to continue to increase overall market share for CW, further positioning the firm as one of the premier multifamily lenders in the industry.

"Growth of this magnitude in a down market is a testament to the strength of our multifamily lending platform.

"The significance of these increases becomes even more meaningful when compared to a substantial decrease, industry wide, in overall GSE loan closings. At the bottom of the economic cycle, we believe that we are now making some of our best loans.

"Our vertically integrated platform, an exceptionally strong, AAA-rated parent, and our team of the most talented professionals in the industry have allowed us to be innovative, proactive and opportunistic in our approach to expanding our multifamily business and increasing our market share. "

Throughout 2009, CW continued its commitment to expanding the firm's multifamily lending platform, adding approximately 20 staff, including an office in Irvine, CA via the acquisition of Sierra Capital Partners.

Earlier in the year, the company formed a joint venture, ARA Finance, with Apartment Realty Advisors, the industry's premier multifamily investment sales firm.

CWCapital has closed over $11 billion in loans since 2005 and currently services approximately $11.5 billion of loans in 48 states. The company generally services all loans that it originates as well as loans for institutional investors.

CWFS employs approximately 330 employees located in 12 offices nationwide, and through CWCapital Investments and CWCapital Asset Management, is the named special servicer on CMBS transactions backed by $174 billion of multifamily and commercial loans representing approximately 14,000 mortgages.

Otéra Capital, a Montreal-based mortgage lender, holds a majority interest in CWFS. Otéra is active in Canada, the United States and Europe and is a subsidiary of the Caisse de dépôt et placement du Québec, one of the leading institutional fund managers in Canada and the United States.

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