MHProNews has learned Wells Fargo Commercial Real Estate has hired two industry veterans as it expands its presence in the manufactured home communities (MHC) lending sector, following the acquisition of a $9 billion portfolio of commercial real estate loans from GE Capital Real Estate that includes MHC-focused funds.

Lew Grace most recently served as head of the MHC lending and investment platform at GE Capital Real Estate which he helped grow from $100 million to $1.8 billion. With nearly 30 years of commercial real estate experience, Grace was also GE Capital’s district manager for Southern California, originating commercial loans. Previously, he managed a portfolio of $500 million commercial properties, according to businesswire.

Matt Krasinski was responsible for MHC and recreational vehicle (RV) loan originations as associate director for GE’s Capital Real Estate in North America. He formerly managed a debt and equity portfolio of over 120 properties representing over $2 billion in assets.

Mark Myers, head of Commercial Real Estate at Wells Fargo, said, “Expanding our balance sheet lending in this sector combined with Wells Fargo’s existing product capabilities, provides a full-spectrum of solutions for customers in the manufactured home communities industry. We look forward to adding Lew’s and Matt’s industry experience to serve our customers in this important and growing segment of the market.” ##

(Photo credit: leecorp-Country Estates MHC)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.