Fifth Third Bank announced its second equity investment in Bellwether Enterprise Real Estate Capital, LLC (Bellwether Enterprise), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (ECI). In addition, Lars Anderson, executive vice president and vice chairman of Commercial Banking Strategic Growth Initiatives for Fifth Third, has been appointed to Bellwether Enterprise’s Board of Directors.
“Fifth Third’s follow-on investment in Bellwether Enterprise demonstrates the Bank’s confidence in our ability to collaborate and deliver value together for commercial real estate businesses on a national scale,” said Anderson. “We are pleased to strengthen our relationship with Bellwether and support the company’s mission to provide our communities with a stable place to call home. I am also personally excited about the opportunity to help guide the company as a member of the organization’s Board of Directors.”
Fifth Third and Bellwether Enterprise announced the strategic relationship and equity investment from Fifth Third Acquisition Holdings, LLC., a wholly-owned subsidiary of Fifth Third, in April. The relationship is designed to offer a broad set of solutions for the commercial real estate industry.
Given Bellwether Enterprise’s wide capabilities with government lending programs, including Fannie Mae DUS™, Freddie Mac, FHA, USDA, and others, the relationship provides long-term agency financing through Bellwether Enterprise for Fifth Third’s clients. Additionally, Bellwether Enterprise can leverage Fifth Third Bank’s short-term and construction lending products, as well as treasury management, capital markets and investment solutions.
“During challenging economic times, access to capital and government programs for multifamily housing is as important as ever,” said Ned Huffman, president and CEO, Bellwether Enterprise. “We are thrilled to have Fifth Third’s continued support in our efforts to grow.”
Beekman Advisors advised Bellwether Enterprise on execution of the transaction. Financial terms were not disclosed.