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RBC Mortgage Expands Operations

TEMECULA, CA-The subsidiary of the Royal Bank of Canada takes 4,000 sf of space in Temecula. The branch will service both San Diego County and the Inland Empire.

By Daniel D. Williams | Updated on March 21, 2005

TEMECULA, CA-RBC Mortgage, an indirect subsidiary of the Royal Bank of Canada, has taken 4,000 sf of office space in a Temecula. The new office will serve both San Diego County and the Inland Empire.In an early deal, the bank financed the acquisition of the last land parcel at Mesa Grande, a 477-acre master planned community southeast of Hemet. In the deal, Woodward Interests, a Murrieta-based building and development company, acquired a 5.3-acre estate at the gated community, which counts 522 estate lots and a view of Diamond Valley Lake. Woodward required a short timeframe in order to close the deal. According to John Kowite, branch manager of RBC Mortgage, generally those deals take an average of six weeks to close, but RBC was able to secure the loan in one week, in order to Woodward to acquire the site. Woodward will redevelop the site, which will serve as a community center and a clubhouse for Mesa Grande residents. “Whether you are builder, realtor or first-time homebuyer, we are all about personalized, professional service,” says Kowite.In all, RBC counts a national network, with branches in 42 states. Nationwide, the company operates as a mortgage banker, offering loan products from more than 150 lenders.

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