Saratoga Springs, New York – Century Health & Housing Capital, LLC (“Century”), a Saratoga Springs, NY–based national commercial real estate finance company, and division of Velocity Financial Inc. (VEL) NYSE, is expanding its team locally and nationally to meet the growing demand for financing multifamily housing and healthcare facilities. At a time when our nation is facing a shortage of housing and banks are tightening, Century offers owners and developers a different option for long-term financing.
President and CEO Kyle Perry explains, “We hear our clients discuss plans to develop multifamily housing projects without having access to financing through traditional sources, such as banks. Century provides available options through HUD’s stable FHA-insured financing programs, and we provide a hands-on, personal approach walking our clients through the process every step of the way.” Over the past 18 months, Perry has grown his team of five to 18 by recruiting industry veterans, including hiring Daniel Jacques, a former Senior Vice President at KeyBank, as the company’s Chief Operating Officer. Dan is focused on business enablement technology and geographic growth initiatives and partnerships to allow Century to expand into new markets and hire the best talent to better serve their clients nationally.
Century has expanded its geographic reach with team members in Arizona, Indiana, Michigan, Massachusetts, Ohio, and New York, and often finds itself following clients as far away as Florida, Texas, and California. Additionally, Perry recently hired Cathy Pharis, a veteran of the FHA-insured financing industry who has focused her 30-year career financing multifamily transactions and affordable housing. Also new to Century are Rick Sherman and Brian Harrahy, who both bring more than 20 years of FHA/HUD industry experience to Century, and Matthew Carey, known in the industry for his expertise in underwriting joined as Managing Director of Underwriting. Pharis and Carey work out of Cleveland, OH, Harrahy works out of Boston and Sherman is in Scottsdale, AZ. The team will be responsible for building and maintaining relationships across the industry expanding Century’s reach throughout the multifamily housing and healthcare sectors.
“At a time when our nation is facing a shortage of housing, market rate, affordable and residential healthcare, Century is positioning itself as a resource to developers and owners looking for long term, attractive financing and helping to fill the gap across the country,” stated Perry.
About Century Health & Housing Capital
Founded in 1992, Century is a direct lender and loan servicer, providing FHA/HUD-insured mortgage financing for the multifamily housing industry, senior living and long-term care facilities. Century is an approved Federal Housing Administration (“FHA”) mortgagee and Governmental National Mortgage Association (“Ginnie Mae”) issuer/servicer, including approvals for FHA Multifamily Accelerated Processing (MAP) and LEAN healthcare lender programs. Century is a relationship driven lender that not only originates, processes, underwrites, and funds its own loans, but also services its loans during both the construction and permanent loan stages – enabling it to form long-term relationships with clients. Century’s mission is to provide its clients with personalized, responsive, and professional service while focusing on their immediate financing needs and long-term goals.
About Velocity Financial, Inc.
Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that primarily originates and manages business purpose loans secured by 1-4-unit residential rental and small commercial properties. Velocity originates loans nationwide across an extensive network of independent mortgage brokers built and refined over 19 years.
Velocity Investors and Media:
Chris Oltmann (818) 532-3708
Kyle Perry (866) 505-3861