Bellwether Expansion: Southeast Progression Consumes Capital Advisors
- Jul 06, 2015
By Adrian Maties, Associate Editor
Bellwether Enterprise Real Estate Capital LLC continues its expansion in the United States. The Cleveland-based company recently strengthened its presence in the Southeast with the acquisition of Capital Advisors Inc., a privately held, full-service mortgage banking firm headquartered in Charlotte.
Bellwether announced its intention to acquire the assets of Capital Advisors at the start of June. The deal adds more than $1 billion in annual loan volume and $1.75 billion in servicing to the Cleveland-based company, bringing its total annual loan volume to more than $4.5 billion and its servicing portfolio to $10.2 billion.
Capitol Advisors was founded in 1994. Over the years, it opened offices all over the Southeast: Atlanta; Birmingham, Ala.; Columbia and Greenville, S.C.; Memphis; and Raleigh and Greensboro, N.C. As part of the deal, Capitol Advisors’ principals have received an equity stake in the newly expanded Bellwether. Also, the Charlotte-based company’s 31 employees have all been retained. From now on, Capitol Advisors will use the Bellwether Enterprise name.
“As a continuation of our mission to become the best and most respected mortgage banking company in the United States, our 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,” Ned Huffman, president of Bellwether, said in a prepared statement.