St. Louis-based Gershman Mortgage recently announced the opening of a production office in Chicago. The office, at 111 W. Jackson Boulevard, will specialize in multifamily, health care and commercial lending.
Gershman is nationally known, providing FHA insured financing for apartment buildings and health care facilities across the country. Gershman is consistently one of the largest lenders in the country participating in the HUD MAP and LEAN programs. In 2013, this division closed 50 loans in 13 states totaling more than $400 million. Established in 1953, the company is the oldest and largest independently owned mortgage lender in St. Louis.
Gershman Vice President Paul Olson will be overseeing the day-to-day operations of the office. Olson has been involved in commercial lending for more than 25 years. He has an MBA in finance from the University of Chicago and is a member of the Real Estate Investment Association of Chicago and the Chicago Real Estate Council. Olson also served on the FHA Insured Projects Subcommittee and on the FHA Tax Credit Pilot committee.
“Gershman Mortgage has had a long, extensive working relationship with the Chicago HUD office, so it was the right fit for us to open a new branch. We are excited about expanding our corporate footprint to Chicago and the opportunity to offer our numerous product lines and programs to the Chicago multifamily market”, said Bruce Sandweiss, executive vice president of Gershman. We are pleased to have Paul at the helm of this office. His knowledge and experience is a great asset to Gershman Mortgage and essential to achieving success in Chicago.”
