Civic Financial Services, a private money lender that specializes in the financing of non-owner occupied investment properties, is planning to grow its multifamily lending business and is tasking Brian Murphy with overseeing that growth.
CIVIC announced recently that it hired Murphy to serve as managing director of multifamily lending.
Murphy comes to CIVIC with more than 16 years of experience in investment and lending.
Most recently, Murphy served as senior vice president and managing director for Wilshire Finance Partners. Throughout his career, Murphy has specialized in wholesale, retail, correspondent, commercial, multifamily, and value-add bridge lending.
Now, he comes to CIVIC to help the company grow its multifamily lending business.
According to the company, CIVIC currently offers multifamily lending for up to 20 units and plans to expand this soon, with 19,000 opportunity properties already identified in the markets being served.
“Brian’s leadership, talent, and extensive track record of multifamily and business development has quickly made him a valued member of the CIVIC family,” William Tessar, President of CIVIC, said. “He has carved a first class reputation as a high producer and expert of structuring transactions, and we are honored he has chosen CIVIC as his platform to scale multifamily.”
Tessar said that company sees a big opportunity in multifamily.
“CIVIC has created the capital, platform and infrastructure to help scale multifamily in the states we lend in,” Tessar said. “We are committed to being a leader in the multifamily space. Following Brian’s appointment will come a large investment by CIVIC into the division, including, but not limited to, analysts, underwriters, appraisers and sales executives.”
Murphy also touted the company’s potential in multifamily.
“CIVIC is poised to be a national player in the non-bank multifamily bridge space. This is bigger than private money,” Murphy said.
“CIVIC is committed to growth. Its unique positioning and strategic, vertical approach breeds synergy and opportunity,” Murphy said. “You can feel it when you enter the office, you can feel it when you talk to the team members, and you can see it in the growth trajectory of the last four years.”