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MortgageReal Estate

Angel Oak expanding into commercial, multifamily lending

Firm specializes in non-QM residential loans

Angel Oak, an investment management firm that specializes in mortgage credit, made its name by providing residential mortgages that don’t fit into the Qualified Mortgage box, but now, the company is expanding into new lending arenas.

Angel Oak announced Monday that it is launching Angel Oak Commercial Lending, which will provide financing to commercial real estate owners, developers and investors. 

According to the company, Angel Oak Commercial will focus on short- and long-term financing for projects in various areas of commercial development, including multifamily, industrial, mixed use, retail, office, self-storage and other segments.

Ben Easterlin, Angel Oak’s senior vice-president of commercial lending, said that the expansion is the next logical step for the company, which has previously grown a significant residential lending and securitization business.

According to the company, its residential lending affiliates combined to issue over $1.1 billion in non-QM loans in 2017.

And now, Angel Oak is expanding into commercial as well.

“Angel Oak has an established track record of providing financing in constrained and dislocated markets and sees commercial lending as the next extension of this line of thinking,” Easterlin said.

“There is a lending void in specific segments of commercial real estate, especially those under $5 million in size,” Easterlin continued.

“In many cases, banks may be constrained in their ability to make commercial real estate loans due to government regulations or corporate limitations on the types and amounts of loans they can issue,” Easterlin added. “Angel Oak Commercial Lending will be a viable solution to provide capital for deserving property developers, owners and investors in commercial real estate.”

According to the company, Angel Oak Commercial will offer senior mortgages, mezzanine, and bridge loans on all commercial asset classes throughout the country

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