MINEOLA, N.Y. - PW Funding Inc., a commercial and multifamily mortgage lender, has agreed to acquire Larson Financial Resources Inc., a Somerset, N.J., commercial lending firm.
Larson Financial would become a wholly owned subsidiary of PW Funding, of Mineola. The deal is expected to close in the fourth quarter.
"The combination of our two companies will create an organization with a national presence and a truly comprehensive product line," said Raymond J. Reisert Jr., chief executive officer of PW Funding, in a statement.
Larson Financial, formerly Larson Mortgage Co., operates in New York, New Jersey, and Pennsylvania and has a commercial and multifamily loan portfolio of close to $900 million. PW Funding, formed in 1971, operates in 33 states and has a loan portfolio of nearly $1.7 billion.