CRE Veteran Wayne Potters Joins Lev as CEO to Launch First-of-its-Kind CMBS Digital Platform
NEW YORK, January 7, 2022 / PRNewswire / – Lev, the commercial real estate finance (CRE) platform known for its online commercial mortgage origination API and digital loan closing technology, today announced the hiring of Wayne potter as Managing Director and Head of Commercial Mortgage Backed Securities (CMBS).
Potters joins Lev during a period of rapid growth, during which the company nearly closed $ 1 billion in loans in 2021 and increased tenfold year over year. In his new role, Potters will launch a CMBS lending platform and assist Lev in his mission to digitize and streamline commercial real estate transactions, with a focus on digital and automated securitizations of commercial real estate loans.
Prior to joining Lev, Potters started and developed the CMBS business as Managing Director and Head of Commercial Mortgages at Societe Generale, a European leader in financial services for over 150 years. During his career, Potters was involved in the origination and securitization of over 40 billion dollars of loans. Potters has worked with large and small real estate investors to secure funding, including Blackstone, Vornado and Simon Property Group. Previously, he led the Commercial Real Estate group at RBS, and prior to that, he worked at Fortress, Merrill Lynch and CSFB in various leadership roles.
âIt says a lot that someone like Wayne, who built the CMBS business at a $ 1.7 trillion bank, turned to Lev and our mission to improve CRE. To say we’re excited is an understatement, âsaid Yaakov Zar, CEO and founder of Lev. âWayne’s background encompasses working with some of the industry’s most prolific banks and borrowers. With his experience launching various CMBS businesses and his knowledge of the impact of technology in the banking industry, we are well on your way. to launch a lending experiment and securitization product that is not currently offered by anyone else in the market. “
With Potters at the helm, Lev will accelerate change in an industry known for its stagnation. Business borrowers demand fast digital experiences that mirror those of consumers’ experiences. Using proprietary technology and deep human expertise, Lev continues to vertically integrate the borrower experience to give clients confidence, transparency, speed and certainty of execution.
âJoining Lev was an easy decision,â said Potters. âI have started several CMBS businesses in traditional banking institutions over the years, but the chance to completely overhaul the typical process in a way that benefits all sides of the market could not be missed. opportunity to be nimble in an industry that can often be slow and cumbersome, and I am delighted to have the opportunity to work together. “
Lev is the commercial real estate finance platform providing fast and transparent access to the capital of the world’s leading financial institutions. Having closed $ 1 billion in CRE mortgages in 2021, Lev grew 10-fold year-over-year thanks to its proprietary approach to CRE financing, including the industry’s only API. Founded in 2019, Lev raised $ 45 million from Greenspring Associates, First American Title, NFX, Canaan Partners, JLL Spark, Animo Ventures and Ludlow Ventures, among others. For more information visit levcapital.com.