|By Marketwired .||
|August 6, 2013 11:02 AM EDT||
NEWPORT BEACH, CA -- (Marketwired) -- 08/06/13 -- Sabal Financial Group, L.P., a diversified financial services firm specializing in real estate, banking and lending, named Patrick Crandall its senior credit executive overseeing operations for all of Sabal. A seasoned professional with an established reputation for best practices in underwriting and originations, Crandall will maintain the integrity of credit standards, policies and procedures across all of Sabal's current commercial and residential real estate lending operations as well as in the firm's future finance offerings -- a stated area of the firm's focused growth.
"Patrick Crandall brings the rare mix of underwriting and credit committee discipline with originations experience, which we think is a powerful combination as we seek to expand our financing platforms while maintaining our fiduciary commitment to institutional-quality credit standards in an entrepreneurial environment," said Pat Jackson, President and CEO of Sabal.
In his position, Crandall leads all credit endeavors for Sabal's lending operations, which include the company's Home Builder Lending and Commercial Real Estate Bridge Lending divisions. Sabal Home Builder Lending offers non-recourse debt in the $3 - $50 million range to reputable home builders across the country for the construction or acquisition and development of well-located, competitive for-sale residential projects. Sabal Commercial Real Estate Bridge Lending provides owners and investors with non-recourse loans ranging from $3 - $15 million for value-add opportunities and properties in transition across all income-producing commercial sectors. Sabal plans to grow its finance offerings to meet market demand and fast-emerging business development opportunities.
In support of these operations, Crandall will oversee all underwriting of proposed financing transactions, and support the expeditious approval processes and "speed to close" for which Sabal has gained recognition.
"Patrick's role is integral as we continue scaling up our lending offerings without sacrificing the credit standards that have thus far ensured our success," said Jackson.
Prior to joining Sabal, Crandall was senior managing director at Cushman & Wakefield, leading the firm's debt, equity and structured finance team on the West Coast. His responsibilities included arranging debt and equity financing for institutional and middle-market commercial real estate investors as well as advising clients on structuring senior and mezzanine debt.
Crandall previously was head of origination for CIBC World Markets in the Western region. Crandall's role emphasized the origination of floating rate bridge financing and expanding the firm's network of brokers and principals as well on the West Coast. Crandall also served on the credit committee at Fremont Investment & Loan as Vice President, to later open and manage a new originations office in New York responsible for $3 billion in new commercial real estate loans.
Crandall obtained his Bachelor of Arts from California State University, Fullerton. He is a member of Urban Land Institute, ICSC, and the Mortgage Bankers Association. Crandall is a frequent speaker at conferences such as IMN and RealShare and has also been a guest lecturer on real estate finance at Cal State Los Angeles, Cal Poly Pomona and University of Southern California.
About Sabal Financial Group
Sabal Financial Group, L.P. is an international diversified financial services firm specializing in real estate, banking and lending. The firm's flagship business has established a strong foothold in the distressed debt arena, bringing nearly $6 billion in real estate and land assets under management since the firm's inception in 2009. Sabal operates a number of complementary businesses including: Sabal Commercial Lending, a non-regulated debt provider offering acquisition, development and construction loans to established residential builders and commercial bridge loans to reputable real estate investors and owners; Sabal Commercial Advisors, a national transaction support services provider to CMBS investors and originators; the Sabal Bank Credit Advisory Practice, an advisor and M&A specialist serving commercial and investment banks with unbiased third-party credit portfolio risk and capital performance assessments; and Sabal Fund Analytics and Surveillance, a provider of expert oversight, reporting and disbursement controls on behalf of equity providers in real estate and non-real estate joint ventures, and controlled and non-controlled investment platforms.
A privately held company, Sabal Financial Group is headquartered in Newport Beach, CA. Visit the company online at www.sabalfin.com.