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Tuesday, 05 February 2019

Sabal Aims for $2Bln of Originations This Year; Eyes Non-Multifamily Sectors

Sabal Capital Partners last year originated $1.5 billion of small-balance commercial mortgages and aims to increase that volume to $2 billion this year. Its growth will come from loans it writes against properties other than multifamily. To spearhead that effort, it's hired Robert Restrick as managing director and head of commercial real estate lending.

Commercial Real Estate Direct Staff Report

Sabal Capital Partners last year originated $1.5 billion of small-balance commercial mortgages and aims to increase that volume to $2 billion this year.

While the bulk of its originations last year - roughly $1 billion - involved Freddie Mac loans, the Irvine, Calif., lender also funded loans with its balance sheet. That balance sheet gained some heft last year when Stone Point Capital acquired a majority stake in the company.

As part of its effort to expand its origination volume this year, Sabal has launched S-CRE, or small - commercial real estate loan, program. It has hired Robert Restrick as managing director and head of commercial real estate lending, to spearhead the program, which focuses on writing loans against properties other than multifamily. The company has set a $1 billion target for the program this year.

Restrick previously was head of Walker & Dunlop's conduit-lending unit. But the Bethesda, Md., lender quit the conduit-lending business just more than two years ago as borrower demand didn't live up to expectations. At that point, he shifted to overseeing an investment platform...


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