Signature Adds Commercial Mortgage Banking Division

Signature Associates-Oncor International of Southfield has formed Signature Capital, a commercial mortgage banking division. The division will finance industrial, office, retail, multifamily and self-storage properties, golf courses and mobile home parks in the $1 million to $100 million range.

The company partnered with key principals of a Michigan-based investment firm, Woodward Financial Group, to form the new division. Gu Chawney, Signature Capital vice president, says the timing for forming the new business is good. “There’s an abundance of financing opportunities in the market today,” he explains, adding that “banks are focusing their attention on long-term lending possibilities. Wall Street, with all its investment banking firms, is aggressively seeking conduit long-term loans. Life insurance companies are continuing their active pursuit of these deals.”

Signature Associates was founded by Steven G. Gordon as an industrial real estate brokerage firm in 1989. Over the last decade, Signature has added office and retail brokerage, property and asset management, and investment sales. “Now we can not only sell and lease properties for our clients, we can help them with the financing, too,” Gordon says. The company employs 65 people in its Southfield offices, including 34 agents.