Angel Oak Commercial Lending hires two general managers
Angel Oak Business Loan, LLC, hired David Pike as Managing Director and Bob Forsythe as Senior Managing Director. Both started working in early March and report to Co-Chairs Nik Chillar and Rick Gallitto.
Pike joins Angel Oak in his office in Newport Beach, Calif., And will oversee lending operations and expansion along the West Coast, focusing on mid-market and larger loan offerings. Pike has over two decades of experience in the commercial real estate lending industry, most recently as Managing Director of Cantor Commercial Real Estate. His focus on the West Coast complements Angel Oak’s prominent presence on the East Coast.
Forsythe will also operate out of the Newport Beach office, leading Angel Oak’s growing low-balance loan program. Forsythe brings over 30 years of experience to Angel Oak, most recently as Founding Director of Pacific West CDC. Previously, he was COO of Lehman Brothers Small Business Finance.
In his new role, Forsythe and the Angel Oak team will work on building a wholesale loan program in the low-balance commercial real estate sector, allowing Angel Oak Commercial Lending to partner up with lenders looking to leverage the company’s lending solutions. The goal of the new program is to leverage local expertise, grow Angel Oak’s loan portfolio, and provide the infrastructure necessary to create beneficial investment solutions in the small balance industry.
As the economic impacts of the pandemic diminish and small businesses begin to rebuild after COVID-19, Angel Oak is bracing for increased demand in the commercial real estate market.
Coinciding with the growth of Angel Oak, the implementation of innovative technologies to streamline the entire loan program. Key features include contributing information for underwriting, capturing data analytics and providing real-time portfolio feedback and monitoring, as well as quantifying ESG initiatives, a key focus for Angel Oak more broadly. .
“The talent we recently added with David and Bob highlights our growth and expansion as we continue to build a strong team to meet our ambitious goals for 2021,” said Ben Easterlin, Head of Commercial Lending at Angel Oak .
The company has more than doubled its team this year and is actively recruiting.