Former Freddie Mac and NYC Housing Preservation & Development Executive Brings 15 Years of Commercial Real Estate Experience as Toorak Grows Multifamily Lending Platform
Toorak Capital Partners, Inc. (“Toorak”), one of the leading capital providers to the residential real estate lending industry, today announced that C. Lamar Myers has joined the firm as Principal and Head of Multifamily Business Development.
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Lamar Myers (Photo: Business Wire)
“We are excited to welcome such a broadly talented commercial real estate executive to the Toorak team as we continue to achieve remarkable growth in our multifamily lending platform,” said Toorak CEO John Beacham. “Lamar has worked at some of the biggest players in the multifamily space, and his experience working in affordable multifamily preservation for New York City will be invaluable as we focus on incorporating affordable and social initiatives into our offerings.”
During his 15-year career in commercial real estate, Mr. Myers has advised, originated, structured, and negotiated loan facilities, oversaw workouts of non-stabilized assets and securitized billions in transactions.
Prior to joining Toorak, Mr. Myers spent five years as a Production Manager at Freddie Mac overseeing the northeast region’s Production & Sales Small Balance Loans program. He spent two years as a Director at NYC's Department of Housing Preservation & Development (“HPD”), where he ran a multifamily development program focused on preserving affordable housing. Earlier in his career, Mr. Myers served as a Vice President within the Structured Lending & Investing Group at Citigroup and was a Manager at Alvarez & Marsal, where he worked on the Lehman Brothers bankruptcy.
“There has been a significant spike in demand for financing on small-balance multifamily properties, and I look forward to working with lenders to deliver financing solutions that are helping to bring new and improved housing stock to the market,” said Mr. Myers. “I’m thrilled to be joining the Toorak team and eager to begin building partnerships that will help solve the current housing shortage.”
Mr. Myers holds a bachelor’s degree in Business Management & Entrepreneurship from The Zicklin School of Business at Baruch College.
With capital commitments from entities managed by KKR, a leading global investment firm, Toorak Capital Partners has revolutionized the way business purpose residential real estate lenders access capital. The firm was the first to link small-balance commercial and residential originators with institutional capital and has perfected this approach in the single-family residential bridge and 30-year single family rental lending space.
To learn more about Toorak Capital Partners’ correspondent lending platform, please contact the firm at email@example.com or 212-393-4100.
About Toorak Capital Partners
Toorak Capital Partners is an integrated correspondent lending platform based in Summit, NJ. Toorak acquires small balance business purpose loans backed by residential, multifamily, and mixed-use properties throughout the U.S. and the U.K. Toorak acquires loans directly from lenders that originate high credit quality loans. Toorak’s principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak-funded projects have renovated, stabilized or provided rental housing for more than 20,000 families to date – an average of more than 500 families every month.
Further information is available at www.toorakcapital.com.
Alex Varney, Stanton