Guggenheim Partners has formed a new commercial real estate entity called Pillar Multifamily. Pillar has acquired certain assets and assumed certain liabilities of Bulls Capital Partners, a Fannie Mae delegated underwriting and servicing (DUS) multifamily lender, the firm announced.
Pillar has also retained many members of the Bulls team. Mark Van Kirk, Bulls’ chief operating officer, and Robert Russell, chief production officer, will remain on board. Anand Gajjar, a senior managing director at Guggenheim, will be named Pillar’s interim chief executive officer.
"The Fannie Mae DUS program is the preeminent source of capital for the affordable and market rate multifamily industry," said Robert Brennan, head of the commercial real estate finance group at Guggenheim Securities, an affiliate of Pillar. "It is a true distinction to be a member of this lending community, and the formation of Pillar Multifamily is a major component of the build-out of Guggenheim's commercial real estate finance platform."
Guggenheim Partners is a diversified financial services firm headquartered in Chicago and New York.