July 12, 2018
In a move to serve clients in the Central Time Zone, the West Coast-based Velocity Mortgage Capital has ended up in Austin, opening a new office at 7000 N. Mopac Expwy. on the metro’s north side. Velocity, which is headquartered in Westlake, CA, provides investment property loans for residential 1-4, multifamily, mixed-use and small-balance commercial properties. Kucera Cos. owns the 155,076-square-foot building, which is also known as Plaza 7000.
“The market for residential 1-4, multi-family, mixed-use and small balance commercial properties is strong all across the country,” observed Velocity Mortgage Capital CEO Chris Farrar. He added that opening in Austin allows the lender to interact with brokers in Texas and the U.S. central region to “provide capital to self-employed real estate investors who might not qualify for traditional bank loans.”
Stan Salter, who joined Velocity in 2013, is heading the new office. “Our goal is to increase the footprint in Texas and surrounding states,” he said.
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