G
antry, a San Francisco-based commercial mortgage banking firm, has acquired Irvine-based loan servicing company Westcap for an undisclosed price. The acquisition includes Westcap's $3.2 billion loan servicing portfolio, comprising 250 loans. Gantry will dissolve the Westcap name and relocate its employees to its Orange County office.
Westcap co-founders Steve Beck and Craig Rommel founded the company in 1981, providing loans in the Western United States from offices in Irvine and Los Angeles. Following the acquisition, Beck, Executive Vice President Steve Bridges, and Director Topher Van Mourick will maintain their roles to ensure a smooth transition.
The merger is part of Gantry's plan to expand its commercial mortgage banking operations. The acquisition brings Gantry's loan portfolio to $23 billion, following recent purchases including Triad Capital Advisors in October, the mortgage banking arm of Norris Beggs & Simpson in 2020, and The Rose Hill Group in 2019.
