Witmer Partners LLC, a Horsham, Pa., capital and advisory firm that also has loan servicing operations, said it has agreed to buy a "significant" stake in a multifamily lender that specializes in government-insured mortgages.
Witmer did not disclose the size of the stake it would to buy in Tavernier Capital Funding. The deal, which was announced Feb. 2, is subject to Department of Housing and Urban Development approval.
Tavernier Capital Funding is a unit of the Tampa commercial mortgage bank Tavernier Capital Partners. David Creamer, the former chairman of GMAC Commercial Mortgage, is a founding partner at Witmer.
Tavernier Capital Funding principal Allen Moczul previously was an executive at GMAC Commercial who oversaw operations in Michigan and later in Florida. GMAC Commercial later became Capmark Financial Group Inc., which filed for bankruptcy protection last year.