Credit and Loan Origination Industry Veteran Phil Soh Joins GreenLake Asset Management
New appointment further strengthens GreenLake's bridge loan platform
Firm expects to close approximately $400 million in loans in 2024
LOS ANGELES, March 11, 2024 /PRNewswire/ -- GreenLake Asset Management ("GreenLake" or the "Firm"), a nationwide leader specializing in providing short-term commercial real estate bridge loans, today announced that Phil Soh has joined the Firm as a Managing Director. Mr. Soh will focus on new credit originations spanning the commercial real estate market.
Mr. Soh brings to GreenLake more than two decades of experience in management, credit administration, underwriting and sales. He has held senior roles across business banking, middle markets, and corporate lending and possesses extensive expertise structuring specialized lending products in addition to standard loans. Prior to joining the Firm, Mr. Soh most recently served as an Executive Vice President and Deputy Chief Credit Officer at Banc of California ("BoC"), which operates more than 70 branches and accounts for nearly $39 billion in assets. During his time with the company, Mr. Soh was intimately involved in integrating BoC's acquisition of Pacific Western Bank in which it became the third largest bank in California. Before that, he held senior credit and business development positions at Citizens Business Bank and Wells Fargo / Wachovia Bank. Earlier in his career, Mr. Soh was a financial advisor at LPL Financial.
Peter Chang, Managing Principal and Portfolio Manager at GreenLake, said, "Phil's extensive background in credit and corporate lending coupled with his experience across the commercial real estate market make him a strong addition to our Firm. After 15-years as an investment firm with nearly $1 billion in assets under management, we continue to be relentlessly focused on continuing to enhance our platform and ensure we are providing prospective clients with access to best-in-class professionals and capital solutions. In my experience, many real estate lenders are incapable of understanding business financials and adding operational value. Phil's industry knowledge and expertise allows us to better support real estate that facilitates our clients' business objectives."
Mr. Soh added, "Commercial real estate industry participants are increasingly looking for creative structured finance capabilities and tailored capital solutions to help them achieve their financing objectives in more flexible ways. GreenLake has been one of the premier players in real estate private credit over the past 15-years and offers clients an attractive value proposition through their broad suite of capabilities. I look forward to supporting the Firm's growth and creating additional value for clients."
Over the past three years, GreenLake has completed more than $1 billion in loan closings and has averaged one to three closings per month. The Firm expects to close approximately $400 million in loans in 2024.
About GreenLake Asset Management LLC
Founded in 2008, GreenLake Asset Management LLC is an SEC registered investment advisor that manages three discretionary lending funds. GreenLake offers creative, flexible, and time-sensitive capital solutions across the commercial real estate industry including hospitality, industrial, multi-family, self-storage, mixed-use, office and retail. For more information, please visit www.greenlakefund.com.
Contacts:
Media:
Mike Geller
Prosek Partners
mgeller@prosek.com
Originations:
GreenLake Originations
deals@greenlakefund.com
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SOURCE GreenLake Asset Management LLC
