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Angel Oak Commercial Lending, LLC, hired David Pike as managing director and Bob Forsythe as senior managing director. Both began work in early March and report to co-Presidents Nik Chillar and Rick Gallitto.
Pike joins Angel Oak in its Newport Beach, California, office and will oversee lending operations and expansion along the West Coast, focusing on middle-market and larger loan offerings. Pike has more than two decades of experience in the commercial real estate lending industry, most recently as managing director for Cantor Commercial Real Estate. His West Coast focus supplements Angel Oak’s prominent East Coast presence.
Forsythe will also operate out of the Newport Beach office, leading Angel Oak’s rapidly growing small-balance loan program. Forsythe brings more than 30 years of experience to Angel Oak, most recently as the founding principal of Pacific West CDC. Prior to that, he served as chief operating officer of Lehman Brothers Small Business Finance.
In his new role Forsythe and the Angel Oak team will work to establish a wholesale lending program in the small-balance commercial real estate space, allowing Angel Oak Commercial Lending to partner with lenders that are looking to tap into the company’s loan solutions. The goal of the new program is to leverage local expertise, grow Angel Oak’s loan pipeline and provide the infrastructure necessary to originate advantageous investment solutions in the small-balance sector.
As the economic impacts of the pandemic lessen and small businesses begin to rebuild post-COVID-19, Angel Oak is preparing for an increase in demand within the commercial real estate market.
Coinciding with Angel Oak’s growth is the implementation of innovative technologies to streamline the entire lending program. Key features include contributing information for underwriting, capturing data analyses, and delivering real-time feedback and portfolio monitoring, as well as quantifying ESG initiatives, a critical focus for Angel Oak more broadly.
“The talent we have recently added with David and Bob highlights our growth and expansion as we continue to build out a robust team to meet our high-bar goals for 2021,” said Ben Easterlin, head of commercial lending at Angel Oak.
The company intends to more than double its team this year and is actively hiring.