CWCapital, a full-service national lender to the multifamily and commercial real estate industries, has announced it is taking steps to expand its national lending platform with the hiring of Philip Brooks as senior vice president in the agency lending group. Brooks will be responsible for the origination of senior housing and multifamily loans and will report to Donald King, managing director and head of CW’s Fannie Mae and Freddie Mac lending platforms. Brooks will also open a new office for CW in Richmond, Va.
Brooks brings more than 20 years of experience in commercial real estate finance. He is widely regarded for his expertise in the financing of senior housing properties and is considered to be among the top producers of senior housing loans in the country. He is also considered an expert in construction, interim/bridge, and permanent financing for balance sheet and third-party capital sources.
Prior to joining CW, Brooks served as senior vice president of mortgage loan production at Berkadia Commercial Mortgage LLC (formerly Capmark Finance, GMAC Commercial Mortgage), where he produced $4 billion in loans as lead originator. Prior to joining Berkadia, Brooks served as director, multifamily loan product development at Fannie Mae, where he launched the Seniors Housing Product Line. He also revised the DUS Multifamily Underwriting and Servicing Guide, now considered the basis for standardized multifamily lending. Brooks began his career at the Mortgage Bankers Association of America where he was associate director of government affairs before joining B.F. Saul Company as loan officer and assistant vice president.
CW’s lending platform saw record-setting growth in 2010 with $2.75 billion in closed loans— solidifying its position as one of the leading providers of multifamily and seniors housing financing in the country. The hiring of Brooks follows several other notable hires in 2010, all part of CW’s efforts to expand its lending platform and increase its scope of products, lending services and geographic reach. The firm has announced it expects to continue to hire top talent and to focus on the development of key markets including Texas, New York City and the west coast.
“We begin 2011 with another hire of a top tier producer in the commercial real estate finance industry," said Michael Berman, president and chief execuriv of CWCapital. "The fact that we can attract such talented professionals speaks to the integrity and success of the CW platform. Philip Brooks has deep industry contacts and a specialized area of expertise which complements our business, and that of Fortress, our parent company. Phil will help us add new senior housing loan products and his hiring underscores CW’s commitment to expanding our multifamily and senior housing lending platforms.”
“CWCapital is one of the leading providers of financing in the commercial real estate industry," said Brooks. "I share their commitment to the customer and to exceptional execution of service. I look forward to helping CW strengthen its already solid platform and am confident that my expertise will aid in facilitating its growth throughout 2011 and beyond.”