A trio of private commercial mortgage veterans announced the launch of Shelby Funding in Boca Raton, Florida.
Robert Gottesman, David Katz and Drew Parker — each with more than 30 years of experience in real estate law, banking, mortgage finances and accounting — founded Shelby as a lending platform to provide acquisition financing to foreclosure investors, fix and flip rehabbers and foreign nationals seeking acquisition financing for U.S. investment real estate, the firm’s co-founders announced Thursday.
Gottesman was on the audit and tax staffs of Coopers & Lybrand, specializing in auditing and providing tax services for real estate clients from 1976 to 1984. A certified public accountant, Gottesman has since been involved in all aspects of real estate and finance including syndications, private mortgage lending, and insurance.
Katz is the managing member of Castlerock Investments, a Boca Raton-based commercial real estate investment firm that originated in Austin, Texas, in 1998, after he started his career as a real estate finance and banking lawyer with Glankler Brown in Memphis, Tennessee in 1980. In 2005, Katz co-founded TenRock Capital, a New York City-based small balance commercial mortgage bridge lender that ceased operations in 2010.
Parker is president of Kingsbrook Investment, a New Jersey-based company the formed in 1998 to acquire and manage income producing real estate, and is founder and director of Cross River Bank, a New Jersey chartered commercial bank. Parker was chief executive officer of Decron Management Corporation in Los Angeles, a commercial and residential real estate management development company.
Shelby, which has a second office for loan originations in Fort Lee, New Jersey, will initially provide lending along the Eastern corridor, from Florida to New York tri-state region.