INCA Capital and Oasis Financial, two of the largest Arizona-based private lenders, have merged their companies to create a top private real estate lender in the Southwest.
The new company will assume the name of INCA Capital. Bill Cleverly will serve as CEO of the company, Paul Sargent as President, Justin Ferrandi as COO and Brandon Walters as CFO.
The new company expects to have a $250M portfolio within the next 24 to 30 months.
“Due to the ongoing deficient credit environment, there is a vast need for private real estate lending in the Southwestern United States,” Cleverly said. “By combining our companies and efforts, the result will be to improve our ability to serve and provide larger capital capacity for our real estate borrowers.”
Prior to this announcement, the officers of the new company have been involved as principals in funding and closing real estate financing transactions in excess of $2.4B during the past 15 years.
“Very few commercial real estate lending companies were able to endure the recent market downturn, but INCA Capital and Oasis Financial are fortunate to have survived and thrived,” Sargent said.
“We discovered that the cultures and values of our companies are similar and we believe a synergistic merger will result in greater opportunities for us.”
