IRVINE, CA—Bellwether Enterprise's majority partner Enterprise Community Partners is dedicated to providing homes for the housing insecure, but current development can't meet demand, Bellwether's EVP and director of the Western US region Trent Brooks tells GlobeSt.com. Following the firm's announcement that it had closed out a strong 2015, originating $4.5 billion in loans and servicing more than $12 billion, we spoke exclusively with Brooks about the biggest trends he sees in commercial real estate and in multifamily in the Western region.

GlobeSt.com: What are the biggest trends you see in commercial real estate for the Western region?

Brooks: Two come to mind: one pertains to multifamily and the other to office. Clearly, the trend for new construction in multifamily continues to be very prevalent. Wherever new units can be built within rational economics, they are being built. That trend is continuing more so in the higher-end market-rate product than in pure affordable, but more is being built every day. The other trend I see is an increased focus on creative office. We're seeing office owners and investors in office properties very focused on the creative-office model. We're also hearing owners of industrial and multifamily properties thinking about ways to incorporate creative office in those asset classes. It's taken off from the fringe and is now mainstream. They're taking the ideas of creative office using them in multifamily design, including some of the business centers, common areas and recreation facilities. Multifamily and industrial owners are taking a page out of the office owners' book in trends and design.

GlobeSt.com: What other trends do you see specifically emerging in the multifamily market in this region?

Brooks: One is the growth of value-add, rehab strategies for multifamily, which we anticipate will continue. More and more capital is coming into that space to either renovate properties under existing ownership or to acquire properties for a value-add strategy. That percentage is growing because there's demand for upgraded units, to create better units for equity investors or a greater likelihood of yield for the aging housing stock. It makes sense to many investors that rather than buying or building units that are new and at the top end of the market, they can add value to existing stock or acquire it for that purpose.

The other trend we anticipate will continue this year is an increased volume of investment sales. In our view, the amount of sales in 2016 relative to 2015 will be greater, and we think that can be attributed in part to the amount of investment funds that are reaching maturity. These are five-to-eight-year funds for assets that need to be recapitalized or sold at maturity, and there are a lot of them today, which will increase the amount of investment sales. It's a good time to be in the investment-sales business.

GlobeSt.com: What about affordable housing?

Brooks: Affordable housing is a highly underserved sector of the housing market, and that delta continues to grow in terms of supply and demand. Unfortunately, that's negative growth. New affordable units that are online or coming online don't come close to meeting the demand. Our company is very active with regard to affordable housing. Our majority partner, Enterprise Community Partners, which was formed in 1982 by Jim Rouse and his wife Patty, has a mission to end housing insecurity in the US. It's a very comprehensive goal, but it's tied to sustainable affordable communities, and that mission is something to which Enterprise is very committed. It's clear that new affordable development is extremely important to the housing stock.

The good news is that there's ample liquidity for affordable housing, especially in the debt space. At Bellwether, we have a dedicated affordable-housing platform. We are one of the largest non-bank lenders in the country. Our research shows there are nearly 19 million households that pay half of their income toward housing. That's defined as housing insecurity. There are also more than 600,000 Americans who don't have a home at all. We are active in terms of lending, and Enterprise is active in terms of policy, so we are both very active in advocating for the elimination of housing insecurity.

GlobeSt.com: What else should our readers know about your firm?

Brooks: We are a private, non-profit, mission-driven business model. We are privately owned with a non-profit majority business partner, so it's a very unique business structure. Our full-service commercial-lending platform lends on all commercial real estate asset classes. We have 25 offices nationwide, and we're continuing to grow, adding offices in the Western US and in other select markets in the US. We are a Fannie Mae, direct Freddie Mac, active FHA and preferred provider to a number of significant CMBS lenders as well. We have a broad menu of lending programs; people really look to us as a one-stop shop that can clear the market in the full spectrum of capital available in the industry. We have a great team and a great company.