Atlanta-based Angel Oak Commercial Lending LLC has acquired a controlling interest in Cherrywood Mortgage LLC, a national small-balance commercial mortgage lender based in Los Diamond Bar, Calif.
Cherrywood specializes in loan originations with balances of $5 million or less, typically on stabilized or value-add properties for all major commercial property classes.
With this acquisition, Cherrywood will become the wholesale small-balance commercial lending arm of Angel Oak Commercial Lending, and Chief Executive Officer Bill Komperda and President Ed Resendez will continue to lead Cherrywood’s operations.
“The experience that Bill, Ed and the Cherrywood team possess is unrivaled in the commercial lending industry,” said Ben Easterlin, Managing Director of Angel Oak Commercial Lending. “Cherrywood has long been regarded as a top firm in the space with an extensive network of brokers throughout the country.”