New York-based real estate trust MFA Financial Inc. May 6 announced the acquisition of the remainder of its stake in the Greenville-based company Lima One Capital, Inc., one of the largest providers of commercial loans (BPL) in the country.
Lima One’s portfolio and assets are in the order of $ 1.2 billion, according to MFA’s announcement, and the acquisition comes after a multi-year partnership between MFA and Lima One, whose management team is expected to remain in place and whose headquarters should remain in Greenville.
“When I joined Lima One in 2018, identifying additional capital providers was critical to the growth of our business and we were fortunate to see MFA go from being a full loan buyer to a true strategic partner. same year, ”said Jeff Tennyson, CEO of Lima One. “Our team has built a premier platform with a strong culture and brand, and we are excited to take this partnership to the next level by fully combining our respective capabilities. “
MFA President and CEO Craig Knutson said the acquisition would strengthen MFA’s business lending investment strategy.
“We are delighted to acquire the Lima One platform and welcome the entire Lima One team to MFA,” he said.
Founded in 2011, Lima One is one of the leading national BPL designers and services. Lima One responds to the dynamic financing needs of real estate investors through a diversified product offering, including fixed and reversible loans and new construction loans, individual and portfolio rental real estate loans, and stabilized and multi-family real estate loans. added value. Since its inception, Lima One has financed more than $ 3 billion in loans across its entire product line.
The acquisition, which will end with Lima One becoming a subsidiary of MFA, is expected to be finalized in the third quarter