Garcia Realty Services, Inc. President and Founder Offers More Than Quarter Century of Real Estate Financing and Underwriting Experience
New York, September 20, 2017 – The Community Preservation Corporation (CPC), a leading not-for-profit affordable housing and neighborhood revitalization lender, announced the hiring of Roger Garcia, former President and Founder of Garcia Realty Services, Inc. for the position of Vice President, Manager of Freddie Mac and FHA Underwriting.
“CPC’s Agency lending platform plays a critical role in our ability to serve the unique capital needs of our borrowers as we expand our impact in communities throughout the region,” said President and CEO of the Community Preservation Corporation, Rafael E. Cestero. “We’re fortunate to be bringing somebody with Roger’s experience onto the CPC team with the ability to step in and lead our Freddie Mac and FHA underwriting operations from day one.”
“I’m excited to be joining a lender like CPC that’s built its business around a core mission, and that also lends at scale and a volume that’s practically unmatched by other nonprofit housing finance companies in this space,” said Roger Garcia. “I’m looking forward to getting to know our borrowers and to continue our strong partnership with HFA and Freddie Mac.”
CPC is dedicated to bringing flexible capital to owners of multifamily buildings in underserved and growing communities. The company has leveraged its more than four decades of community revitalization experience and strategic relationships with their government partners to provide a suite of permanent loan products uniquely tailored to fit the needs of building owners, large and small.
CPC is a long-time Freddie Mac Seller/Servicer and offers a range of competitively priced, reliable mortgage products for the acquisition or refinance of multifamily properties. This includes Freddie Mac’s Conventional Financing with loans ranging from $5 million to $100 million with 5- to 10-year terms, and the Small Balance Loan (SBL) product which helps to close that gap in the market for flexible financing for small buildings by offering loans from $1 million to $6 million with flexible terms, prepayment options, competitive low rates, and streamlined pricing, underwriting, closing, and funding process.
CPC is also an approved FHA Multifamily Accelerated Processing (MAP) lender with expertise on 223(f) and 221(d)(4). Through the MAP program, CPC offers new construction, rehabilitation, refinance and acquisition loans for all types of multifamily projects with five or more units.
Roger Garcia previously served as Founder and President of Garcia Realty Services, Inc., a boutique real estate firm he established in 2008 specializing in origination, underwriting, and brokerage of commercial, residential and private money mortgages through funding sources that include life insurance companies, regional banks, government agencies and private corporate and individual investors. Prior to forming Garcia Realty Services, Inc., he was President, Principal, and Director of New York Urban Real Estate Services, Inc., a 10-person commercial mortgage banking firm which originated and serviced construction, permanent and bridge loans for income-producing properties in the northeastern United States. Garcia is a licensed Real Estate broker in the State of New York and has refereed in the United States Soccer Federation since 2008. He graduated with a Bachelor of Arts in Economics from Fordham University.
About the Community Preservation Corporation (CPC)
Established in 1974, CPC is a nonprofit affordable housing and community revitalization finance company that believes housing is central to transforming underserved neighborhoods into thriving and vibrant communities. To date, the company has leveraged approximately $9.7 billion in private and public investment to finance more than 170,660 units of housing. CPC’s work with its partners has helped revitalize countless neighborhoods and provided quality housing for families, senior citizens, and individuals with disabilities. Visit CPC at communityp.com, and on Facebook, Twitter and LinkedIn.