Hunt Mortgage Group recently announced that Joseph Savarese joined the firm as a Vice President in the Proprietary Loan Group, the firm’s balance sheet lending platform that was launched in 2015. In this role, he will underwrite loans for clients nationwide. Savarese will be based in the firm’s New York office, and will report to Michael Golfman, deputy chief underwriter for proprietary lending.
Savarese joined Hunt Mortgage Group from ACRES, where he served as vice president of Asset Management and was responsible for co-managing ACRES’ commercial real estate loan portfolio.
“Joe has more than 10 years of asset management and underwriting experience. He is well-versed in handling complex mezzanine and bridge transactions and in working with distressed debt,” notes Golfman. “The proprietary loan platform was created to extend our balance sheet lending capability to finance commercial properties in a variety of asset classes. Joe is a successful underwriter with solid lending and finance expertise. We are happy to add someone with his knowledge and skills to our growing team.”
Prior to joining ACRES, Savarese was vice president at Indigo Asset Management, where he worked on bridge and mezzanine loans and the acquisition of distressed commercial real estate debt. He also co-managed Indigo’s commercial real estate loan portfolio with a focus on workouts and restructuring, compliance with loan documentation, and managing sponsor relationships.
Before that, he was with Sheridan Asset Management, where he served as vice president of Underwriting with a focus on special situation lending to lower middle-market companies, commercial real estate projects, and the acquisition of distressed assets. Earlier in his career, Savarese held positions with Virtua Research, Metropolitan West Asset Management and Western Asset Management.
For more information, visit www.huntmortgagegroup.com.