Phoenix, Ariz. – April 24, 2019 – Everest Holdings, a real estate investment and advisory company in Scottsdale, Ariz., announces its newly-formed lending platform, Everest Financial Services.
Everest Financial Services provides debt and equity capital for workforce housing (both for-sale and rental) and commercial development. The company offers a range of products including bridge loans, ground-up construction loans, mezzanine financing and preferred equity. Everest Financial Services works with a diverse group of clients including homebuilders, apartment developers/investors and retail, office and industrial developers.
Everest Financial Services is led by Ryan O’Donovan. O’Donovan will work closely with Everest Holdings’ affiliate Conifer Capital led by Steve Surgent. Others involved will be Joe Blackbourn, president of Everest Holdings, and Daniel Feiner, president of Feiner Enterprises. O’Donovan, Surgent, Blackbourn and Feiner act as the credit committee for Everest Financial Services.
“We felt that our expertise and capabilities would allow us to reach out to the real estate investment and development community and be an effective lender and capital partner,” says O’Donovan.
The principals of the new entity recognized a need for quick and reliable capital for smaller and mid-sized developers that were either getting turned down by traditional financing sources or were frustrated by the process. “Our goal is to create long-lasting relationships with our borrower clients and help them grow their business,” says O’Donovan.
O’Donovan, Surgent, Blackbourn and Feiner have worked together for more than a decade, with an extensive list of projects throughout Metro Phoenix that has included hotels, multifamily, office and residential land.
“Conifer Capital is extremely pleased to be working with Everest Holdings on the new Financial Services platform. The platform was created to ease the financing process for small to mid-size developers and investors who are increasingly frustrated with the project delays and onerous processes they are experiencing with more traditional financing sources,” says Surgent, board member, principal and founder of Conifer Capital. “The platform’s streamlined underwriting, approval and closing process is a direct result of the investment committee members having worked together for over ten years.”
Presently, Everest Financial Services is Arizona-focused, but the company is beginning to look in other markets in the West.
Contact Ryan O’Donovan with any questions, (480) 860-6500, Everest Financial Services, 7337 E. Doubletree Ranch Road, Suite C185, Scottsdale, AZ 85258.
Everest Financial Services
Everest Financial Services is a private lending platform of Everest Holdings in Scottsdale, Ariz. Everest Financial Services works with a diverse group of clients including homebuilders, apartment developers/investors and retail developers. It informally began as an investment vehicle almost two years ago and now the company has decided to create a new, fully licensed entity that they plan to grow over time. Everest Financial Services’ current focus is on providing capital for workforce housing (both for-sale and rental) and commercial development. The company offers a range of products including bridge loans, ground-up construction loans and preferred equity.
Everest Holdings is a diversified real estate investment and advisory company focused on assets in the Southwestern US. Founded in 2002 and based in Scottsdale, Ariz., Everest has acquired approximately $500 million of commercial and residential assets. Everest’s investors and clients include some of the country’s largest and most sophisticated institutional and high-net-worth participants. Everest has earned a reputation for earning above-standard returns and creating uncommon value for its investors and advisory-service clients.