Prepares to add lending products for $6 trillion single-family rental market
Los Angeles, California, March 6, 2017 (Newswire.com) - Patch of Land, a leading online real estate marketplace lender and crowdfunding platform, announces the addition of Matthew Zall as Chief Investment Product Officer as the firm prepares to expand into the single-family rental market with longer term, permanent financing products. The number of non-owner occupied single-family properties in the U.S. including townhomes, condos, and 2-4 unit properties grew to almost 24 million units valued at over $6 trillion in 2016, according to ATTOM Data Solutions.
Zall brings to Patch of Land more than 12 years of real estate and mortgage experience, as well as expertise in financing and product development. He pioneered three of the industry’s first-ever multi-borrower single-family rental securitizations, helping to build Blackstone Group subsidiary, B2R Finance, (now known as Finance of America Holdings, LLC) from start up to a multibillion dollar lender in only a few years. Prior to joining B2R, Matt was a Commercial Real Estate (CRE) trader at J.P. Morgan and Bear Stearns. At Patch of Land, Zall will execute strategies to enable the expansion of the firm’s position as a marketplace lender by offering both accredited and institutional investors additional opportunities to invest in this asset class.
“Patch of Land’s marketplace is designed to meet the lending needs of real estate investors. The addition of Matt enables us to continue the expansion of our marketplace to fully serve the lending needs of more than 10 million Americans who directly invest in single-family residential properties and need consistent, reliable access to capital to fuel their businesses,” said Paul Deitch, Patch of Land’s Chief Executive Officer. “We are excited about adding Matt to our executive team as he is passionate about our mission to leverage technology to improve the borrowing experience for the real estate entrepreneur and at the same time offer investors from both Main Street and Wall Street the opportunity to participate in this attractive asset class.”
About Patch of Land
Since issuing its first real estate loan in October 2013, Patch of Land has been recognized in the financial technology space as a leader in online real estate lending. The company employs its proprietary technology to efficiently fill a void in the real estate finance industry by providing borrowers access to capital for residential and commercial real estate projects. The platform also establishes a marketplace through which qualified individual and institutional investors can participate in private real estate projects with low minimum investments, predictable returns and first-lien secured loans.
More information is available at www.PatchofLand.com or by calling 888-959-1465.
Source: Patch of Land