Money360, a commercial real estate direct lender, announced that industry veteran Tom MacManus has been named president of the firm. MacManus will be responsible for leading the company’s sales team, driving strategic growth and broadening its origination network.
MacManus’ 30 years of experience in commercial mortgage banking and lending include previous roles as president and chief operating officer at ARA Finance, where he was responsible for developing the firm’s national multifamily financing platform; chairman and CEO at Cushman & Wakefield Sonnenblick Goldman, where he established a more robust and diversified real estate investment and financial advisory platform in the U.S., and president of GMAC Commercial Mortgage & CEO of North American Operations, where he oversaw real estate capital markets and lending activities for North America, including seven lending platforms and national mortgage banking origination.
“Tom’s strong track record of growing businesses and his deep expertise in commercial real estate lending will help drive Money360 to new heights as we ramp up to billions in annual volume,” said Evan Gentry, Money360 founder and CEO. “As an industry veteran with an entrepreneurial mindset and extensive relationships, Tom will play a key role as we continue to build the Money360 brand as the most trusted commercial real estate bridge lender.”
“This is a very uncertain and stressful time for commercial real estate property owners and the sector at large,” MacManus said. “I look forward to working with the Money360 team to provide our clients customized solutions to achieve their business goals. With our focus on client service and sound lending fundamentals, we are committed to differentiating ourselves by offering certainty and speed to clients and structuring loans to meet their unique needs.”
In addition to bringing on a new president, Money360 has been actively expanding its funding capacity with numerous institutional partners, most recently closing a $250 million credit facility with Credit Suisse. The line of credit will provide Money360 with a lower cost of capital and strengthen its balance sheet.
“2020 has been a difficult year for many in the industry and we want our customers to know that Money360 remains committed to meeting their financing needs and providing the highest level of customer service,” said Gentry. “The addition of Tom as our president and the expanded funding capacity are evidence of our commitment to the industry and will further accelerate our growth as a market leader.”