Cleveland-based Westwood Real Estate Capital, Detroit-based District Capital, and Indianapolis-based Crossroads Realty Advisors have joined to create a commercial mortgage origination and loan servicing organization under the District Capital name.
District Capital said the partnership combines three of the Midwest's top independently owned commercial mortgage banking companies. The three offices combined include more than 25 employees and 30 years of experience in commercial mortgage banking.
“This expansion is a major milestone for District Capital as we work towards our strategic vision of leading Midwest commercial real estate financings Kevin Kovachevich, principal of District Capital, said in a statement. “By partnering with our fellow Midwest colleagues, we're expanding our resources and relationships which are critical to thrive in our highly network driven industry.
District Capital said through its network of lender relationships, it provides access to sophisticated financing strategies including life insurance company financing, commercial mortgage-backed securities, construction, bridge, mezzanine and pre-development lending.
“We have long respected and admired our colleagues in Detroit and Indianapolis and are excited to be on the same team,” said Jim Leonard co- founder of the former Westwood Real Estate capital. “In addition to growing our strong market position in the Midwest we anticipate strong expansion into other regions.”