Genesis Bank Announces Partnership With Basis Investment Group
Represents First Time a Minority Depository Institution Has Partnered With an Agency Licensed Seller/Servicer and Certified Minority and Women-Owned Business
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–#Bank–Genesis Bank (“Genesis” or the “Bank”), announced today that it has entered into a partnership agreement with Basis Investment Group (“Basis”), a national commercial real estate debt and equity investment platform. Basis is a Freddie Mac Seller/Servicer and is designated as a certified Minority and Women-Owned Business (“MWOB”). As one of only two diverse, multiracial Minority Depository Institutions (“MDI”) in the U.S., the partnership between Genesis and Basis provides both entities with a unique opportunity to leverage their commercial real estate platforms to generate business, while making a deeper impact in the majority minority communities across Los Angeles, Orange, Riverside, and San Bernardino Counties, California (“Target Markets”). The partnership focuses on providing Genesis with additional access to capital, products, and resources under Basis’ robust platform. Through Genesis’ management team’s extensive track record originating, servicing, and managing multi-billion dollar portfolios of multifamily loans at multiple financial institutions, across multiple decades, the partnership broadens the Bank’s opportunities to leverage its vast network, resources, and capabilities, by bolstering its multifamily financing products and services.
Stephen H. Gordon, Founding Chairman and Chief Executive Officer, stated, “Our partnership with Basis embodies so many important pillars of our respective organizations — to successfully operate a robust, industry leading platform of commercial real estate financing products, services, and solutions, while also supporting historically underserved minority communities. Despite our distinct business models, we share a common strategic focus on providing multifamily financing in densely populated, low- to moderate-income, majority minority, workforce-oriented census tracts. As this partnership represents the first time an MDI has partnered with an agency licensed Seller/Servicer MWOB, we proudly look forward to furthering our impact in the communities we serve across our Target Markets.”
Tammy K. Jones, Chief Executive Officer and Co-Founder of Basis, stated, “Two minority platforms, like Basis and Genesis combining forces to provide access to capital and credit is powerful. We are proud to partner with one of the only diverse, multi-racial MDIs, whose mission aligns with ours — lending in communities that are often overlooked by majority providers — and the social impact and wealth generation this access to capital creates. Through our alliance, Genesis will have access to our additional multifamily and CRE lending products, uniquely positioning them to better serve their diverse client base.”
About Genesis Bank
Genesis Bank is a California state chartered commercial bank, organized by a group of highly experienced and successful bankers, investors, and business professionals. The Bank focuses on serving the financial needs of small to mid-sized businesses and owners, and investors in income-producing multifamily and commercial real estate located in the Bank’s Target Markets of Los Angeles, Orange, Riverside and San Bernardino counties, California. Additionally, Genesis is an MDI, and is only the second diverse, multi-racial MDI in the U.S. The Bank is powered by GenTeckSM, a groundbreaking combination of best-in-class technologies, which are tightly integrated to give clients a seamless, digital first, and transparent experience. The Bank’s products, services, and solutions primarily include traditional commercial business, Small Business Administration (SBA), income property, and owner-occupied commercial real estate loan and deposit products, as well as treasury management services and solutions. Genesis Bank is headquartered in Newport Beach, California, and can be found online at www.mygenesisbank.com. Genesis is an Equal Housing Lender and Member FDIC.
About Basis Investment Group
Basis Investment Group is a full-service commercial real estate investment platform investing across the capital stack of stabilized, transitional, and development CRE assets throughout the United States. With representation in New York, Chicago, Dallas, Tampa and Irvine, CA, Basis has successfully closed over $5 billion in transactions across multiple strategies and asset classes focusing across the U.S. middle market.
Basis, a certified Minority and Woman-Owned Business, focuses primarily on investments in the middle market where it has deep relationships. Basis is a registered investment advisor and lender that invests in both debt and equity strategies including fixed rate senior mortgage loans, bridge loans, mezzanine loans, preferred equity, structured equity, JV equity and B-piece investments. Basis is also the only diverse-owned Optigo® lender for Freddie Mac. For more information, please visit www.basisinvgroup.com.
Contacts
Will Han
Executive Vice President, Chief Financial Officer
Genesis Bank
E-mail: whan@mygenesisbank.com
Phone: 949-273-1226