ST. PAUL—Freddie Mac recently honored Tim Leonhard, managing director of the affordable multifamily housing platform at St. Paul-based Oak Grove Capital, with their 2013 “Top Originator Award.” The agency presented the award to Leonhard during its Seller/Servicer Conference on October 4 in Chicago.
“This award is extremely meaningful as a lender,” said the Dallas-based Leonhard. “Three years ago no one knew about Freddie Mac CME execution, particularly as it is related to affordable housing. Today, CME financing represents in excess of 75% of Freddie Mac's affordable multifamily housing loan production.”
Leonhard has been with Oak Grove Capital and its predecessors since 2007, and has closed more than $4 billion of affordable multifamily housing debt transactions over the course of his 15-year career.
“Tim has been the driving force behind Oak Grove Capital's continued success in the affordable multifamily housing market,” said Brian Kelleher, managing director at Oak Grove Capital. “Under his leadership, Oak Grove was named Fannie Mae's No. 1 affordable lender in 2010, and has consistently been ranked in the top three for both Freddie and Fannie affordable multifamily housing lending every year since 2009.”
Oak Grove Capital services a commercial loan portfolio in excess of $8 billion and offers a product line consisting of Fannie Mae DUS®, Freddie Mac, FHA MAP, GNMA and other funding options.
The firm has also just hired Ken Bowen as a Columbus-based senior vice president, focusing on new loan originations for the company's market rate multifamily debt platform.
“Ken brings over 30 years' experience in commercial real estate to his new role at Oak Grove Capital,” said Jeff Patton, managing director of market rate loan production at Oak Grove. “He is well-respected in the industry and has a wealth of knowledge regarding all types of housing finance capital. ”
Prior to joining Oak Grove, Bowen was president of Red Mortgage Capital, where he spent 18 years focused on multifamily and seniors housing production. His experience includes serving on Fannie Mae's Affordable Housing Forum, Chief Underwriter's Forum, and various working groups assisting Fannie Mae in new product developments.
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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.
