Real estate crowdfunding platform RealtyShares announced on Wednesday it has appointed Bill Lanting as Vice President of Commercial Debt Originations. Lanting reportedly brings real estate financing experience to RealtyShares and was previously an executive with Radisson and Wyndham Hotels.
Nav Athwal, RealtyShares Founder and CEO, stated:
“RealtyShares uniquely offers the ability to raise debt and equity capital across both residential and commercial markets for our customers. Our focus has always been on identifying areas where raising capital is the most inefficient and providing real value there. We started with single family debt and commercial equity, and over the last few months we’ve seen a real increase in interest from our customers in using our platform for commercial debt as well.”
Lanting also shared:
“I’ve always been intrigued by the marketplace lending space, and I saw an opportunity not being fully realized within the industry. I think RealtyShares can bring something that nobody else has. By building a platform as a direct lender, with both institutional and private discretionary capital, plus capital available through our network of investors, we will be able to hit all areas of the capital stack from low-risk bridge debt, to more risk-adjusted bridge debt, all the way up into mezzanine debt including equity. Very few entities out there are doing that very well.”
RealtyShares also revealed that Lanting’s leadership will enable the commercial debt team to take advantage of the full range of demand from current and prospective customers. Athwal then added:
“Bill was an obvious choice. He not only has the abilities and the relationships to grow the business, but also has that scrappy attitude and personality you need when your company is still growing. We’re excited to be bringing on a successful and proven leader who can not only establish a brand for RealtyShares within CRE Debt, but also scale that product and grow origination volume for us.”
To date, the RealtyShares network of investors has funded upwards of $200 million across more than 400 investment opportunities on the platform, funding residential and commercial projects in 31 states.