ALB Commercial Capital to Pursue National Broker Strategy
ALB Founder and Director, Leonard Manriquez stated, "The chorus of media reports about the current economic slowdown have led many to believe that now is the time to assume a defensive position in the marketplace. I don't believe that. I firmly believe that right now there are a lot of good brokers, working on good deals who just need a financial partner to provide them with access to capital."
Unlike a traditional franchise model, ALB is fine-tuning a broker-affiliate model that will provide brokers throughout the country with a turnkey resources to establish or grow a commercial real estate practice by capitalizing on economies of scale that a large, established company like ALB can provide. The program is expected to launch later this summer.
Manriquez commented, "We expect to launch our national strategy within the next 60-90 days. Our research has proven the validity of our concept and the broker feedback we have received has been 100% positive. We are confident that, in short order, ALB will be among the most active players in the small balance commercial lending sector."
Annual loan volume in the small balance commercial loan sector has grown steadily in recent years. Projected loan volume for 2008 is $200 billion nationally, up from $130 billion just four years ago. Greater Los Angeles, which is ALB's base, is a $3 billion market, itself. The average size of a small- balance commercial loan is $750,000.
Founded in 2001, ALB originates multifamily and commercial loans for income properties. ALB's established lending sources range from portfolio lenders, conduit lenders, savings and loans, insurance funds, private money, credit unions, Fannie MAE, and other capital market groups. ALB is a wholesale representatives and correspondent with loan programs that enable the company to originate loans nationwide.
ALB Commercial Capital to Pursue National Broker Strategy
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