Multifamily lender Pillar has added four new hires to its lending platform, including former Freddie Mac executive Edward Hussey, who will head the firm’s multifamily production team.
Hussey, based out of the firm’s Vienna, Virginia offices, will be responsible for multifamily production across all of the firm’s product lines, including Fannie Mae, Freddie Mac, FHA, CMBS and life insurance company financing.
“Throughout my career, I’ve worked with all types of borrowers and all types of lenders — life insurance companies, CMBS, FHA/HUD — and with Fannie Mae and Freddie Mac directly,” Hussey told Real Estate Capital. “This was an opportunity to work with a firm that represents all those loan products.”
Hussey, who has more than three decades of experience in the business, was most recently vice president of credit risk management for Freddie Mac Multifamily, where he wrote credit policy, was involved with strategic planning and new product development.
Before that he was chief underwriter for Wells Fargo Multifamily Capital, Reilly Mortgage Group and Standard Mortgage Corporation. He will call upon his multifamily expertise to grow the Pillar business.
“With such a strong base for clients, my job is to increase exposure to the multifamily sector, from small clients to institutional borrowers, because we can deal with any one of their needs,” he said. “To grow we’re going to have to show each one of those borrowers that we are more than just a lender, but that we are an advisor and we can help in any stage of of their business.
Pillar, a Guggenheim Partners affiliate, also hired Jonathan White as managing director of its CMBS origination team in New York. White brings more than 25 years of commercial real estate experience, including 13 years in commercial and multifamily securitization. Pillar launched its CMBS division in July, particularly eager about that market as a wave of refinancings approaches.
White was previously a managing director at research and data firm TreppPort, and before that he served as COO and managing director of securitization at Mezz Cap and was a principal at Prudential Mortgage Capital Company.
Since its inception in 2010, Pillar has grown to 200 employees, with approximately 30 originators, said the firm’s CEO, Anand Gajjar. By design, Gajjar said he and co-founder Robert Brennan, principal and senior managing director, were keen to first put the proper infrastructure in place so the firm could ultimately “grow quickly and smoothly when we added originators.”
“As we have continued to build out our business, we now have enough product and services to attract talent like Ed Hussey and Jon White, as well as additional producers around the country,” he said.
As part of the new round of hires, Pillar also brought on board Don Husi as director of senior housing and healthcare originations, based in Brentwood, Tennessee; and Robert Taylor as vice president of originations, based in Salt Lake City, Utah.
Husi, previously with American Retirement Corporation and Healthcare Realty Trust, will specialize in senior housing and healthcare debt transactions, concentrating on Fannie, Freddie Mac and HUD financing. Taylor, previously a managing director at Emerge Multifamily Capital, joins Pillar to focus on the origination of FHA Insured Multifamily and Healthcare loans.