Texas Firm Opens Tulsa Office

A Marshall, Texas-based investment real estate lending firm, seeing opportunity to grow in the stable, but strong, local economy, is opening an office in Tulsa.
Commercial Resources, which specializes in investment producing properties, is shopping for a permanent location in Tulsa, said Edward Boersma, manager of the firm’s origination team, which recently moved to Tulsa.
With branch offices in New York, California, Louisiana, Houston, San Antonio, Fort Worth and Amarillo, Commercial Resources brokered loans totaling about $150 million last year, Boersma said.
Commercial Resources, which has previously financed purchases for clients here, considers Tulsa a strong market for lending.
“For our company, that puts us in a very strong economic city in the middle of the country and that is going to allow us to build our company,” Boersma said.
He sees strength in the diversity and stability of the Tulsa economy.
“When lenders look at a city like this that hasn’t had large fluctuations, they look at it as a good place to make loans,” he said.
He said Tulsa’s efforts to revitalize its downtown and develop along the Arkansas River “is huge.”
“I think it is essential to get your downtown environment built back up and thriving, and river development is a great idea,” he said. “If developers are coming in and putting in new commercial properties along the river, it is a great opportunity for me to work with people like that and to start up new business.”
Commercial Resources, opened by Boersma’s father and brother about 12 years ago, operates primarily in the commercial and multifamily mortgage field, including retail, self storage, office, industrial, health care-related, apartment, mobile home community, and mixed-use properties.
Although the company opened as a conduit and a direct lender, it has “since transformed into more of a mortgage broker or a mortgage bank relationship,” Boersma said. And, although the company lends nationwide, working with institutional lenders, big investment banks and insurance companies, it has maintained its corporate headquarters in the small northeast Texas community of Marshall and tends to “focus on the regions where we have offices.”
“My father said with this technology I can run this from wherever I want – why not from where I have spent the last 25 years,” Boersma said.
Part of that technology includes a secure loan management portal on the company’s Web site, www.commercialresources.net, through which the firm manages all of its loans.
“We have all of our marketing information that we keep up to date and live for all of our originators,” he said, “and we have a Web-based customer relation management system that we all use and interact through.”
Recent tightening of the credit market has not had much affect on Commercial Resources’ lending business, Boersma said. “Things are moving a bit slower than they typically have, but, realistically, when our company puts a loan together, we have a pretty good history.”
He said the firm arranged about $110 million in loans last year with LaSalle Bank, which recently was purchased by Bank of America.
“One of our trademarks is when we submit a loan to them, they know that when we say we want to borrow X-amount of money we have done the due diligence work and we know the property is valued and the income is there to support that,” he said.

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