CHICAGO, IL- Oak Grove Capital has announced the hiring of Ryan Cahalan as vice president, and given him the mission to expand the Minnesota-based mortgage lender's operations in the Chicago area.
“There was a lack of a conventional lending presence here in Chicago,” says Cahalan, who expects to “focus on market-rate apartment housing.” Oak Grove has an $8 billion commercial real estate loan portfolio with properties across the country and arranges Fannie Mae, Freddie Mac and FHA financing, among other options, for multifamily apartment complexes, both affordable and market-rate, seniors housing and healthcare facilities. They already had an office in the Chicago area staffed by Bill Kauffman that handled seniors housing.
Cahalan says he will also work to deepen the firm's involvement throughout the Midwest, and having a base in Chicago will help. “Chicago's airport provides added coverage to secondary markets in the central part of the Midwest. Take a one-hour plane flight and you can cover a lot of ground.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
