Pillar Multifamily and 801 Capital Finance Co. have entered into a correspondent agreement.
Pillar is an affiliate of Guggenheim Partners while 801 Capital is an affiliate of Flat 801 Management Co.
801 Capital will source Fannie Mae-eligible multifamily mortgage loans for Pillar through its national network, outside of southern California. Pillar will have the first option, but not the obligation, to originate all Fannie Mae-eligible mortgage loans sourced by 801 Capital.
"Our relationship with Pillar has already resulted in the delivery of over $275 million in production this year," said Jeremy Stoler of 801 Capital. "With our significant forward pipeline, we look forward to continued success together."
801 Capital focuses on identifying and evaluating commercial investment opportunities and related financing alternatives, marketing and asset disposition services, managing and repositioning distressed properties, and commercial real estate advisory assignments.
Pillar, a Fannie Mae Delegated Underwriting and Servicing or DUS lender, offers different financing solutions to owners of multifamily properties. Its capabilities include small loan solutions, market-rate multifamily mortgages, and credit facilities.