She becomes the majority owner of the CRE lending firm
Korth Direct Mortgage has announced that its CEO, Holly MacDonald-Korth, has acquired a majority stake in the company, making the commercial real estate lender a majority women-owned enterprise.
Founded in 2016, the Florida-based firm is a voluntary SEC public reporting company originating, financing, and servicing first-lien commercial real estate loans.
According to its news release, MacDonald-Korth is now the single largest shareholder after buying 1.1 million shares of common stock from KDM’s former CEO James Korth. MacDonald-Korth and Pam Hipp – managing director of sales and distribution of KDM’s Michigan-based broker-dealer subsidiary J. W. Korth & Company – hold a combined 53% of KDM’s common stock.
- “KDM is proud of its commitment to diversity and the acquisition of the best talent possible to serve its shareholders and investors. This new designation opens our company to broad opportunities with asset allocators and broker-dealers who value diversity, equity, and inclusion,” MacDonald Korth said. “But beyond those advantages, we are brimming with pride to be one of the only national lenders of our size to be owned and operated by women.”
MacDonald Korth, former president and chief financial officer, was appointed CEO last month. She succeeded Korth, who will remain chairman of the board and managing director of J. W. Korth & Company.
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