HomeStreet Bank, a wholly owned subsidiary of HomeStreet Inc., has launched HomeStreet Commercial Capital (HCC) to finance loans for self-storage facilities and other types of commercial real estate. Based in Orange County, Calif., the company will provide permanent financing up to $10 million for self-storage as well as industrial, mobile-home parks, multi-family, office and retail properties.
The 14-member team is led by Bill Endresen, president of HCC and executive vice president of HomeStreet Bank. Formerly with Impac Commercial Capital Corp., Endresen has 40 years of experience in the commercial real estate industry.
“We are excited about the opportunity this presents our group as we combine our collective expertise in the commercial real estate field and our knowledge of the market with the financial strength of HomeStreet Bank,” Endresen told the source. “We look forward to assisting developers and investors in Southern California and other western-region markets with their permanent-financing needs.”
HomeStreet is a diversified financial-services company headquartered in Seattle and serving consumers and businesses in Hawaii and the western United States. The company operates two primary business segments: mortgage banking, which originates and purchases single-family residential mortgage loans, primarily for sale into the secondary markets; and commercial and consumer banking, including commercial real estate, commercial lending, residential construction lending, retail banking, private banking, investment and insurance services. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corp.
