AloStar has announced the expansion of its product offering with the launch of AloStar Real Estate Finance. David Hudson has been named Managing Director and will head the newest platform in the AloStar suite of products.
AloStar’s real estate platform will grow through an organic standalone product as well as an add-on to the existing AloStar Business Credit platform. The organic expansion into real estate will include a focus on owner occupied assets as well as income producing properties such as retail centers, apartment complexes and office buildings while avoiding the land and construction segments.
AloStar will launch its Real Estate Finance efforts under the guidance of David Hudson. Hudson spent the last ten years at Bank of America as a Senior Client Manager and was responsible for the growth and oversight of the mid-south real estate portfolio. He has over 25 years in finance, banking and capital markets and brings a wealth of contacts and experience to the AloStar team. He is involved with the Urban Land Institute and the Commercial Real Estate Finance Council.
“David continues the AloStar tradition of hiring experienced industry veterans. His experience in Real Estate provides the foundation from which we will expand our product set to better serve our existing clients and referral sources. In addition, David will help AloStar grow the business organically. Through our real estate platform, we will look for opportunities where we can deploy capital that is meaningful to the client. We intend to provide solutions to clients who have capital needs between $5 million and $20 million. David’s experience in both structuring and originating transactions positions him to lead this effort as we expand into this asset class. We are pleased to have him as part of our team and we anticipate expanding our ability to provide even more creative capital solutions for our clients and referral sources” said Andy McGhee, CEO of AloStar Bank of Commerce.
AloStar has a history of launching and expanding its product offering since its inception in 2011. AloStar launched its ABL unit, AloStar Business Credit, nationally in January 2012 with a focus on serving the middle market and its referral sources. In 2013, AloStar launched a Lender Finance platform when they hired industry veterans Luke Graham and John Thomas. Combined these two platforms have already committed in excess of $1.5 billion to AloStar’s clients.
AloStar Bank of Commerce offers solutions to its clients and referral sources that need capital commitments between $5 million and $20 million. AloStar has three lending platforms to assist its clients and referral sources – AloStar Business Credit the institutions asset based lending platform, AloStar Lender Finance which focuses on the financial services sector and now AloStar Real Estate Finance. In addition to its lending capabilities, AloStar’s Correspondent Banking platform provides services to Community and Regional banks and it’s online retail division supplies deposit products to consumer customers in all fifty states.