Wafra Capital Partners Inc. (WCP) announced the acquisition of a controlling interest in Anchor Loans, the largest fix-and-flip lender in the United States, by a WCP affiliate.
Anchor Loans was founded in 1998 as a trust deed investing start up, and is now a multi-billion dollar provider of financing to fix-and-flip entrepreneurs. Anchor will continue to be based in Calabasas, California and led by its CEO and co-founder Steve Pollack, whose leadership helped pioneer advanced technologies that have catapulted the company into its number one status in the industry.
“Acquiring a controlling interest in Anchor, an investment partner of ours since 2015, represents a smart and agile decision to add to our growing real estate debt investment portfolio,” said Michael Gontar, CIO of WCP.
Anchor Loans was the first private fix-and-flip lender to fund more than $1 billion in loans in a single year, with more than $1 billion in funding transactions in 2016. The firm has transacted more than $7.24 billion since 1998.
