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Signature Adds Commercial Mortgage Banking Division

SOUTHFIELD, MI-Noted Detroit brokerage firm plans to expand brokerage into handling real estate loans.

By Robert Carr | Updated on July 28, 2000

Signature Associates-Oncor International of Southfield has formed Signature Capital, a commercial mortgage banking division. The division will finance industrial, office, retail, multifamily and self-storage properties, golf courses and mobile home parks in the $1 million to $100 million range.

The company partnered with key principals of a Michigan-based investment firm, Woodward Financial Group, to form the new division. Gu Chawney, Signature Capital vice president, says the timing for forming the new business is good. “There’s an abundance of financing opportunities in the market today,” he explains, adding that “banks are focusing their attention on long-term lending possibilities. Wall Street, with all its investment banking firms, is aggressively seeking conduit long-term loans. Life insurance companies are continuing their active pursuit of these deals.”

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