LADERA RANCH, Calif.–(BUSINESS WIRE)–Money360, a commercial real estate direct lender, today announced that Tom MacManus has been promoted to President & Chief Executive Officer (CEO). Current CEO Evan Gentry will step back from day-to-day operations and transition responsibilities, effective April 5, 2021. Gentry has accepted a three-year assignment from his church to serve as a mission president and will oversee the New York Syracuse mission.
MacManus joined Money360 as President in October 2020 with more than 30 years of experience in commercial real estate, including serving as President of GMAC Commercial Mortgage and CEO of North American Operations. In his current role at Money360, MacManus is responsible for leading the company’s sales team, driving strategic growth and broadening its origination network. Since he joined, Money360 has hired four new executives to its originations team and funded record-breaking loan volume in December 2020 of over $110 million. Money360 expects to fund over $1 billion in loans in 2021.
“I look forward to expanding my role at Money360 and further accelerating our growth during this unique period of opportunity for bridge lending,” said MacManus. “As other private lenders and some traditional banks have pulled back from the market amid the pandemic, there is a significant opportunity for us to grow market share by meeting the robust pent-up demand for transitional capital. Money360’s focus on certainty of execution, loan structuring flexibility, process transparency and speed is really resonating in the market.”
MacManus is an experienced commercial real estate industry leader. In addition to his work at GMAC, where he oversaw real estate capital markets and lending activities for North America, previous roles include President & Chief Operating Officer at ARA Finance, an ARA / Walker & Dunlop joint venture mortgage financing firm, where he was responsible for developing the firm’s national multifamily financing platform, and Chairman & 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.
During his tenure at GMAC, MacManus worked with John Maute, Money360 board member and newly appointed CEO at M360 Advisors LLC, Money360’s investment management affiliate, for nearly a decade. In April, Maute will become the CEO of M360 Advisors while Gentry will stay on as chairman.
“I’m thankful to work with Tom and our strong team of talented colleagues, whom I’m confident will continue to build on all that we’ve accomplished at Money360,” said Gentry. “Tom is the ideal candidate to lead this company forward and he’s already taken the brand to new heights, with December marking our highest-ever monthly lending volume. I look forward to seeing all that he and the capable team in place will accomplish.”
Money360 is a vertically integrated, nationwide direct lender that sources, underwrites, closes and services small- to mid-balance commercial real estate loans ranging in size from $5 million to $30 million. Through the seamless union of world-class technology and irreplaceable human expertise, Money360 delivers a smarter, simpler, and more transparent experience from origination to servicing. Borrowers can learn more at www.money360.com.
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