Bellwether Expands into Southeast Markets

CLEVELAND—Bellwether Enterprise Real Estate Capital LLC, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, has bought privately held mortgage banker Capital Advisors Inc. Deal terms were not disclosed; the deal adds more than $1 billion in annual loan volume and $1.75 billion in servicing to Bellwether Enterprise, and expands its platform to several Southeastern markets. The combined company is expected to have a total annual loan volume of more than $4.5 billion and a servicing portfolio of $10.2 billion.

As part of the transaction, the principals of Capital Advisors received an equity stake in the newly expanded Bellwether Enterprise, and Capital Advisors' 31 current employees have been retained. Capital Advisors, which has formally taken on the Bellwether Enterprise name, is headquartered in Charlotte, NC with offices in Atlanta; Birmingham, AL; Columbia and Greenville, SC; Memphis; and Raleigh and Greensboro, NC.

Bellwether Enterprises's president, Ned Huffman, cites a cultural fit between the two organizations, including “a commitment to boutique-style service.” He says that his company's acquisition of Capital Advisors will allow us “to further grow our market share in the Southeast. We look forward to serving the region for years to come.”

In Charlotte, Capital Advisors president Cooper Willis says that “Day-to-day operations, from application to closing, will remain entirely the same.” He adds that the acquisition will bring expanded offerings to borrowers in the Southeast, including Bellwether Enterprise's agency and specialty lending products.