Anchor plans to enhance its technologies with the investment
Wafra Capital Partners (WCP) has announced its acquisition of a controlling interest in Anchor Loans, a fix-and-flip lender.
Under the terms of the acquisition, Anchor Chief Executive Officer and co-founder Steve Pollack will continue to lead Anchor Loans in its headquarters in Calabasas, Calif. The company also said that it would leverage WCP’s investment to enhance its fintech and improve its approval and funding timelines.
“Acquiring a controlling interest in Anchor, an investment partner of ours since 2015, represents a smart and agile decision to add to our growing real estate debt investment portfolio,” said WCP Chief Information Officer Michael Gontar. “Anchor stands out as the strategic leader in a robust and growing fix-and-flip market, consistently posting strong numbers through varied market cycles. We look forward to its continued growth as we look to build our investment footprint.”
Anchor Loans partnered with WCP in 2015 to expand its operations from 17 US states to 46 states including the District of Columbia.
“We are excited about how WCP’s investment and confidence in our lending strategy can help us grow deep into the future,” Pollack said. “Both firms shared a belief that taking the long view, even in the fast-paced fix-and-flip industry, is essential to sustained success. Working together made sense for both teams, and we look forward to what we can accomplish together.”
