Bellwether Enterprise to Acquire Capital Advisors and Expand Presence in the Southeast

CLEVELAND--()--Capital Advisors, Inc. (Capital Advisors), a privately held, full-service mortgage banking firm, and Bellwether Enterprise Real Estate Capital, LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, Inc. (Enterprise), today announced a strategic combination of their businesses whereby Bellwether Enterprise will acquire the assets of Capital Advisors.

The acquisition will add more than $1 billion in annual loan volume and $1.75 billion in servicing to Bellwether Enterprise, which is projected to bring the firm’s total annual loan volume to more than $4.5 billion and its servicing portfolio to $10.2 billion.

The transaction is subject to Bellwether Enterprise and Enterprise board approval and is expected to close on or about June 30, 2015. The principals of Capital Advisors will receive an equity stake in the newly expanded Bellwether Enterprise, and Capital Advisors' 31 current employees will be retained. Capital Advisors, which has been in business since 1994, is headquartered in Charlotte, North Carolina with offices in Atlanta; Birmingham, Alabama; Columbia, Greensboro, and Greenville, South Carolina; Memphis, Tennessee and Raleigh, North Carolina. Capital Advisors will take on the Bellwether Enterprise name at closing, and all of its business practices and quality of service will remain the same.

“The acquisition of Capital Advisors is the latest example of Bellwether Enterprise’s commitment to strategic expansion across the country that will ultimately allow us to serve more people in need,” said Ned Huffman, president of Bellwether Enterprise. “This acquisition will help strengthen our market share in the Southeast and beyond, further positioning us to become the best and the most respected mortgage banking company in the United States.”

“Capital Advisors has a quality team, a solid reputation and long-standing relationships – all key factors that were considered in the decision to acquire the firm. Capital Advisors and Bellwether Enterprise share similar cultures; both companies provide boutique style service, have overlapping connections with lenders and offer similar servicing platforms. We expect a smooth transition,” added Huffman.

The integration of the businesses will take place over several months. According to Cooper Willis, president of Capital Advisors, “Our customers and clients will continue to receive the high quality service they’ve come to expect. The day-to-day operation will remain the same, from application to closing.”

“With Bellwether Enterprise’s wide variety of agency and specialty lending products, as well as its dedication to workforce and affordable housing, we look forward to introducing the Bellwether Enterprise brand to borrowers in the Southeast,” added Willis.

The U.S. is in the midst of a broad housing insecurity crisis that is affecting nearly 19 million low-income families who are homeless or paying more than half of their monthly income on housing. Enterprise’s goal is to end housing insecurity in the U.S within a generation. As part of the Enterprise family of companies, Bellwether Enterprise is committed to tapping its expertise and nationwide network to help achieve this goal. For more information on Bellwether Enterprise and its services, visit www.BellwetherEnterprise.com.

About Bellwether Enterprise

Bellwether Enterprise is a national, full-service commercial and multifamily mortgage banking company. As a subsidiary of Enterprise Community Investment, Bellwether Enterprise has production offices across the country and an integrated servicing platform based in Cleveland. With local market expertise, national lending relationships and financing structure experience, we provide clients with competitive, creative solutions for their financing needs. Bellwether Enterprise provides loans for a range of institutional investors including life insurance companies, pension funds, commercial banks and CMBS lenders and is a Designated Fannie Mae Full DUS® Lender, Freddie Mac Targeted Affordable Housing lender and Program Plus®Seller Servicer, Federal Housing Administration (FHA) approved Multifamily Accelerated Processing (MAP) lender and U.S. Department of Agriculture (USDA) Section 538 Rural Development lender.

Contacts

Group Gordon
Maya Kriet, 212-784-5710
mkriet@groupgordon.com

Contacts

Group Gordon
Maya Kriet, 212-784-5710
mkriet@groupgordon.com