AMI Capital's Western Region Adds Second Originator; Experienced Mortgage Banker Joins Team in Denver Office

Business Wire, Feb 11, 1999

DENVER--(BUSINESS WIRE)--Feb. 11, 1999--AMI Capital Inc. announced that it has added a second originator to its Western Region team providing commercial mortgage banking services in the Rocky Mountains area.

The team is based in Denver, where AMI opened an office in November to expand market share in Colorado, Idaho, Utah, Kansas, Nebraska, Montana, Wyoming, the Dakotas and other western states.

Carter Sales joins AMI as director in its Southwest Region. In his 21 years in the real estate business, Sales is an experienced correspondent mortgage banker who is proficient in structuring, negotiating and closing debt and equity transactions.

He has experience with tax exempt bond and FHA apartment financing programs and has extensive real estate development expertise. Prior to joining AMI, Sales served as vice president of Eberhardt Co./United Mortgage Co.

Sales will join Western Region Managing Director Tom Rowland in focusing AMI's origination efforts in that region of the United States. Rowland, who has spent the last 27 years in commercial multi-family real estate finance, was most recently a senior vice president at Wilson, Cantwell & Moody, a commercial and multi-family mortgage banking firm in Denver.

AMI Capital is a nationwide mortgage lender focusing on loans for multi-family housing properties, office buildings, industrial properties and retail centers. Since the firm's inception in 1990, its portfolio has grown to more than $1.5 billion. AMI Capital, with headquarters in Bethesda, Md., is owned by ULLICO Inc., whose assets exceed $3 billion.

"I look forward to focusing my efforts on expanding AMI's market share in the western states," Sales said. "I have spent all 21 years of my professional career in the Rocky Mountains market, and I believe Denver and surrounding markets will benefit from AMI's expansion into this region."

Added Rowland: "Adding Carter to our team significantly increases the depth of expertise we are able to offer clients as well as enhances our business development efforts. Also, Carter brings with him numerous existing relationships that we will add to our client base.

"Whether working with developers, apartment owners, or investors, our AMI team possesses the experience to swiftly and reliably structure transactions that meet or exceed business objectives."

Shortly after its founding in 1990, AMI Capital became an industry leader in Fannie Mae's Delegated Underwriter and Services (DUS) program. In 1995 the company won the "DUS Lender of the Year" award, and in 1996 it received the "Top Gun" award from Fannie Mae, recognizing its "record of excellence and loan volume."

In recent years, AMI has expanded its product line to include customized commercial financing solutions with fixed or floating rates, interim/bridge and construction loans, pool revolving credit lines, tax exempt credit enhancements, conduits, FHA/GNMA, and life insurance loan programs.

AMI Capital has five internal departments providing turnkey mortgage services. These include: origination (sales and marketing); screening (initial review of financials to determine a loan's feasibility); underwriting (loan processing); financing and accounting; and loan servicing (collecting payments, insurance, and taxes and inspecting properties). AMI Capital's loan amounts range from $3 million and up.

In addition to its Bethesda headquarters, AMI Capital has regional offices in Atlanta; Boca Raton, Fla.; Chicago; Dallas; Denver; Detroit; Los Angeles; New York; Portland, Ore.; and San Francisco.