FARMINGDALE, NY AND SHREWSBURY, NJ - 12/05/2019 (PRDistribution.com)
First Rehab Lending to integrate its leading product suite, advanced technology, and national geographic footprint with the world-class sales, operations, and servicing platform of Alpha Funding Solutions to form Alpha Funding Partners. The new company is committed to helping real estate investors, brokers, and referral partners deliver high quality, affordable housing to more people.
First Rehab Lending and Alpha Funding Solutions have announced the merger of the two companies to form Alpha Funding Partners. The newly formed company will become the leading provider of institutional capital to private real estate investors. The combined companies have deployed over $700 million in loans to real estate investors while helping them easily and affordably secure projects and grow their businesses. Alpha Funding Partners has offices in New York and New Jersey with twice the employee base to service Northeast clients. The company looks forward to maintaining their family owned approach of building strong and lasting relationship as Alpha Funding Partners expands nationally.
Andrew Smith, CEO of Broad Solutions, joins Alpha Funding Partners as a strategic investor and advisor while serving in the role of Executive Chairman. Fred Assini, CEO and founder of First Rehab Lending, will lead the transition to a single company as CEO of Alpha Funding Partners. Mark Callazzo and David Hansel, co-founders and CEO and President respectively of Alpha Funding Solutions, will serve as co-Presidents of the new entity while leading the New Jersey operations and assisting with the growth and development of the combined organization.
“We are excited to join forces and bring together this amazing team of knowledgeable and experienced real estate professionals,” said Fred Assini, CEO and founder of First Rehab Lending. “Alpha Funding Partners is one of the few private lenders that closes, underwrites, and services loans as part of a holistic end-to-end customer experience. The company has already generated tremendous momentum while creating incredible demand. Alpha Funding Partners is already seeing our average loan size increase as the volume of multifamily and mixed use loans in the $1 million to $5 million range grow, and our single family and multi-unit rental business is expanding. We are excited to leverage the strong foundations, fast and flexible teams, and cultures developed by both companies to create the ultimate broker, borrower, and referral partner experiences moving forward.”
“Alpha Funding Solutions has developed world class sales, operations, and servicing systems to optimally meet the changing business needs of customers,” said David Hansel, President and co-founder of Alpha Funding Solutions. “To combine that with First Rehab Lending’s leading technology and capital markets expertise positions us well for future growth and expansion.”
“The Northeast has a high volume of older homes, multi-family residences, and mixed-use real estate in need of renovation,” said Andrew Smith, CEO of BroadSolutions and member of Fannie Mae’s Affordable Housing Advisory Council. “One of Alpha Funding Partners core objectives is to take these blighted homes, apartment buildings, and stores in various neighborhoods and have investors renovate them using the capital we lend. Job opportunities are created, neighborhoods are improved, and the finished products provide quality housing, shopping, and community meeting areas to those earning $50,000 to $125,000 annually.”
The new company will continue to provide leading levels of customer service while investing heavily in innovation and technology. The Alpha Funding Partners platform will leverage artificial intelligence and machine learning to more accurately model risk, assess credit, and accurately price opportunities. This allows loans to be reviewed, approved, and processed faster while providing the best possible terms and long-term value to real estate investors, brokers, and referral partners.
About First Rehab Lending
First Rehab Lending has been a national private money lender since 2012. Specializing in non-owner-occupied fix and flips, the company has deployed over $100 million in investment property funding since inception. Founded by Fred Assini, a successful real estate investor and owner of Grant Hill Construction and FJN Property Management, First Rehab Lending brings industry expertise to every funded partnership to ensure project success and long-term growth for real estate investors. First Rehab Lending’s in-house sales and underwriting team consistently delivers premium service and support to hundreds of clients.
About Alpha Funding Solutions
Alpha Funding Solutions, established in 2007, was founded by Mark Callazzo and David Hansel. Together, the duo brings over 50 years of real estate investment experience including expertise in property valuation, capital sourcing, acquisition, development and lending. Alpha Funding Solutions was built on a commitment to flawless execution and customer transparency. The team has consistently maintained high customer satisfaction, renewal, and referral ratings that have built the Alpha Funding brand into a lending leader.
BroadSolutions is an advisory and investment platform specializing in fixed-income, specifically mortgage origination and real estate geared to entry level housing. Andrew Smith, CEO, has deep roots in institutional capital and brings experience structuring investment vehicles to provide the optimal capital stack for companies. As an advisor, BroadSolutions helps companies develop optimal investment strategies, maximize capital access and deployment, and tightly execute to increase market share and maximize company value.