Money360, Inc., a peer-to-peer (P2P) commercial real estate (CRE) lending platform that brings together CRE borrowers and accredited investors, today announced the appointment of Patrick G. Brokaw to Vice President, Operations.
Brokaw brings more than 25 years of executive and business leadership experience to Money360, including a decade of experience serving as president and CEO of Strategic Asset Services, LLC, a commercial real estate due diligence company. While at Strategic Asset Services, Brokaw was responsible for global operations and business development, and introduced technologies to the commercial real estate financing industry that significantly improved collateral risk assessment.
Brokaw’s background includes creating a commercial real estate inspection company that performed over 30,000 inspections annually. While at that company, he was a sought-after authority on collateral monitoring, and a featured panelist at various Mortgage Banking Association functions and conferences. During the formative years of Commercial Mortgage-Backed Securities, he also worked with the leading commercial services to develop best practices standards in underwriting modeling, new loan set up, and site inspections.
Furthermore, he has served as executive vice president of marketing/sales of Strategic Property Associates (SPA), which provides quality outsourcing solutions to real estate lenders, servicers, and the investment banking community; and working as director of business relations for the Center of Discovery, where he oversaw both the company’s relationships and contracts with insurance companies, and spearheaded the company’s nationwide expansion efforts.
In his new role as VP, Operations for Money360, Brokaw will be responsible for helping Money360 identify and evaluate the best lending opportunities for its accredited investors across a variety of commercial property types, continuing to build out the Money360 platform to further increase its scalability, and overseeing the underwriting, due diligence, and processing of loan applications. Brokaw will also work with Money360’s commercial real estate borrowers to assist them with applying for and obtaining loans ranging from bridge loans to permanent financing for commercial and non-owner occupied residential properties.
Evan Gentry, CEO of Money360, stated:
“Mr. Brokaw’s significant experience in commercial real estate and his extensive network of established relationships within the investment community makes him a natural fit for overseeing operations for Money360. We’re delighted to have him on our team and we look forward to working with him.”
Brokaw added:
“Online marketplace lending is a new and rapidly up-and-coming industry that is fundamentally changing the way that commercial real estate is financed. I’m excited to be joining the Money360 team and for the chance to apply my knowledge, skills, and experience to helping the company continue to grow and expand.”