NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Genesis Bank (“Genesis” or the “Bank”), today announced that it has entered into a partnership agreement with Basis Investment Group (“Basis”), a national equity and loan investment platform commercial real estate. Basis is a Freddie Mac Salesman/Repairer and is designated as a Certified Minority and Women-Owned Business (“MWOB”). As one of only two Multiracial Minority Depository Institutions (“MDIs”) in the United States, the partnership between Genesis and Basis provides both entities with a unique opportunity to leverage their commercial real estate platforms to generate business. , while having a deeper impact in majority minority communities in Los Angeles, Orange, Riverside and San Bernardino Counties, California (“Target Markets”). The partnership aims to provide Genesis with additional access to capital, products and resources under Basis’ robust platform. With the Genesis management team’s extensive experience originating, servicing and managing multi-billion dollar portfolios of multi-family loans across multiple financial institutions, over several decades, the partnership expands the possibilities for the Bank of Leverage its extensive network, resources and capabilities, strengthening its multifamily financing products and services.
Stephen H. Gordon, Founding Chairman and Chief Executive Officer, said, “Our partnership with Basis embodies so many important pillars of our respective organizations – to successfully operate a strong, industry-leading platform of products, services and commercial real estate financing solutions, while supporting historically underserved minority communities. Despite our distinct business models, we share a common strategic focus on multifamily financing in densely populated, low-to-moderate income, majority-minority, and workforce-focused census tracts. As this partnership represents the first time an MDI has partnered with an agency-licensed MWOB seller/repairer, we are proud to continue our impact in the communities we serve in our target markets.
Tammy K. Jones, CEO and co-founder of Basis, said, “Two minority platforms, like Basis and Genesis, that combine forces to provide access to capital and credit, are powerful. We are proud to partner with one of the only diverse, multi-racial MDIs, whose mission aligns with ours – to lend in communities often overlooked by mainstream providers – and the social impact and wealth generation that this access to created capital. Through our alliance, Genesis will have access to our additional multi-family and CRE loan products, uniquely positioning them to better serve their diverse customer base.
About Genesis Bank
Genesis Bank is a chartered commercial bank in the State of California, organized by a group of highly experienced and successful bankers, investors and business professionals. The Bank is focused on serving the financial needs of small and medium-sized businesses and homeowners, as well as investors in income-producing multifamily and commercial real estate located in the Bank’s target markets of Los Angeles, Orange, Riverside Counties and San Bernardino, California. Additionally, Genesis is an MDI and is only the second diverse and multiracial MDI in the United States. The bank is powered by GenTeckSM, a revolutionary combination of cutting-edge technologies, which are tightly integrated to provide customers with a smooth and seamless first digital experience. The Bank’s products, services and solutions primarily include traditional commercial enterprises, small business administration (SBA), income properties and owner-occupied commercial real estate lending and deposit products, as well as services and cash management solutions. Genesis Bank is headquartered in Newport Beach, CA and can be found online at www.mygenesisbank.com. Genesis is an equal housing lender and member of the FDIC.
About Basis Investment Group
Basis Investment Group is a full-service commercial real estate investment platform that invests in the capital stack of stabilized, transitional and developing CRE assets across the United States. With representation in New York, Chicago, Dallas, Tampa and Irvine, Calif., Basis has successfully closed over $5 billion in transactions across multiple strategies and asset classes focused on the US middle market.
Basis, a certified minority, woman-owned firm, focuses primarily on mid-market investments where it has deep relationships. Basis is an investment advisor and registered lender investing in debt and equity strategies including fixed rate first mortgages, bridge loans, mezzanine loans, preferred stock, structured equity , JV shares and B coin investments. Basis is also the only diversified ownership Optigo® lender for Freddie Mac. For more information, please visit www.basisinvgroup.com.