NEW YORK – (BUSINESS WIRE) – April 20, 2021–
TrueRate, a debt placement marketplace that optimizes commercial real estate lending by creating real-time markets, today announced its public launch. With a number of the leading US lenders partnering on the platform, TrueRate creates active, asset-class independent markets for bridging loans, agency loans and other institutional sources of debt, including life insurance companies.
TrueRate, a marketplace for placing debt for commercial real estate loans (Photo: Business Wire)
TrueRate is led by industry veteran Dan Gorczycki, a former senior member of the debt and equity team at Avison Young and supported by Olive Tree Ventures, a subsidiary of national multi-family real estate owner Olive Tree Holdings.
TrueRate’s executive team, who have contributed more than $ 13 billion in transactions in the commercial lending industry in 55 years, also includes Vice President of Strategy and Manufacturing Cooper Ramsey, formerly Greystone; and Vice President of Debt Capital Markets Peter Waanders, formerly KeyBank Real Estate Capital.
“Commercial real estate loans are ripe for innovation and TrueRate brings much-needed transparency into the debt-raising process,” said Gorczycki. “I am passionate about this technology and I firmly believe that it can change the way we do commercial mortgages and create a much better process when borrowers need to be as efficient as possible.”
Gorczycki, who has brokered over $ 3 billion in transactions in his two decades in commercial real estate finance alone, will oversee the execution of TrueRate’s growth strategy. Prior to joining Avison Young, Gorczycki worked for 15 years at Savills Studley and Granite Partners LLC, the predecessor of Savills US. During Gorczycki’s tenure, he was Managing Director, Partner and Head of the Debt Group. Gorczycki has brokered a $ 44.8 million HUD loan for Piedmont in Raleigh, North Carolina. a $ 195 million office building loan in Boston, Massachusetts; a $ 170 million loan for a mall in Cincinnati, Ohio; and the largest Marina loan ever – $ 218 million for three Florida assets.
“Dan’s vast experience and connections will enable us to continue our goal of making TrueRate a household name in real estate financing,” said Ian Bel, Olive Tree chief executive officer. “Dan’s extensive network of industry relationships and his presence in leadership positions only enhance our ability to provide the best possible service to our customers. TrueRate has been very well received by the market and Dan will be instrumental in building his place as a disruptor in the mortgage brokerage world. “
TrueRate is a marketplace for commercial real estate loan debt placement. TrueRate’s intuitive platform creates robust real-time markets for borrowers and lenders by leveraging big data and deep industry knowledge to enable a more efficient, transparent and competitive tendering process that results in optimal loan terms. Founded in 2020, TrueRate is backed by Olive Tree Ventures, a subsidiary of national multi-family home owner Olive Tree Holdings. Further information can be found at: www.truerateservices.com/
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
KEYWORD OF INDUSTRY: PROFESSIONAL SERVICES OF OTHER CONSTRUCTION AND REAL ESTATE COMMERCIAL BUILDING AND REAL ESTATE FINANCIAL CONSTRUCTION AND REIT BANKING
Copyright Business Wire 2021.
PUB: 04/20/2021 2:05 p.m. / DISC: 04/20/2021 2:05 p.m.
Copyright Business Wire 2021.