One of Arizona’s largest private real estate financing firms, INCA Capital, LLC (INCA), has acquired Scottsdale Private Lending (SPL) and named Phil Sollomi as vice president. Sollomi will leverage 30 years of experience in commercial real estate financing to be largely responsible for loan origination and underwriting.
In addition to having brokered deals together throughout their decades-long relationship, “Sollomi’s recent success with SPL and expertise in commercial real estate loan origination inspired the acquisition,” said COO Justin Ferrandi.
Throughout his tenure in the industry, Sollomi has originated more than $1 billion in loans, and is looking forward to integrating his knowledge and network to the benefit of INCA clients. “INCA’s thorough understanding of the market, competitive interest rates and swift underwriting ability are what make the firm distinctly different,” said Sollomi. “We all share very similar business philosophies, and I’m eager to facilitate seamless and timely closes, which can only be made possible by working with a direct lender.”
As a direct lender, INCA sources individuals with simple or complex loan requests, evaluates underwriting, and provides funds with lower-cost private capital investor money, which is a fast and affordable process in comparison to traditional lending.
Sollomi is a licensed Mortgage Loan Originator (NMLS 1240815) and real estate sales agent in Arizona. He was recently elected to serve on the Arizona Private Lender Associations’ (APLA) Board of Directors, and has previously served on the Board of Directors for Arizona Mortgage Brokers Association (AAMB). He is also an active member of NAIOP Arizona and the Urban Land Institute (ULI).