The portfolio is owned by various general partnerships controlled by two investors. It consists of nine apartment buildings containing 308 units. This set of loans was very complex because the buildings are located in low-to-moderate income areas, said Hal Rose, president of Venture West.
Todd Sherman of Venture West financed the portfolio with three local financial institutions. Sherman has closed over $131 million in 2001. As a result of this performance, Venture West had a total loan volume last year of a record $630.6 million, a 56% increase over 2000.
Venture West is a privately owned, mortgage brokerage firm providing real estate loans for the purchase and refinance of single-family residences, apartment buildings and commercial properties. The firm has headquarters in El Segundo and an office in Orange County in Irvine.
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