Guggenheim, Tremont Realty Capital create correspondent lending channel
Guggenheim Partners, an affiliate of Pillar Multifamily LLC, forged a deal with Tremont Realty Capital, this week to create a correspondent lending channel in which Tremont will source Fannie Mae-eligible multifamily loans for Pillar through its network. "We look forward to expanding our relationship with Tremont and are pleased to have such a high quality company sourcing business for our platform," said Robert Brennan, senior managing director and head of Guggenheim Commercial Real Estate Finance. Tremont Realty Capital is a real estate investment and advisory company based in Boston. Guggenheim Commercial Real Estate is a lender that sources, underwrites, funds and services commercial mortgages in the U.S. It's the second time recently in which Pillar Multifamily joined forces with a company to set up a correspondent lending channel. First California Mortgage announced in October that it's partnering with Pillar Multifamily in order to penetrate the commercial mortgage-backed securities market. First Cal will source Fannie Mae-eligible mortgage loans for Pillar throughout the new correspondent lending platform, in markets outside of southern California. The construction of the deal lets First Cal fund Fannie Mae-eligible mortgages for Pillar. Pillar is a lender, providing loans for owners of multifamily properties, which are commercial real estates assets. Write to Kerri Panchuk.