Basic investment group (Basis), a national debt and equity commercial real estate (CRE) investment platform, today announced a first-of-its-kind origination partnership with Genesis Bank (Genesis), a California-chartered commercial bank that focuses on its target markets of Los Angeles, Orange, Riverside and San Bernardino counties, California. The partnership represents the first time that a minority-owned, female-certified CRE investment platform and seller service Freddie Mac have partnered with a minority depository institution (MDI). This unique partnership will allow Basis to deepen its commitment to underserved communities while providing Genesis with access to additional capital and loan products that will create more wealth-generating business opportunities.
Stephen H. Gordon, Founding Chairman and CEO of Genesis, has a proven track record in building and leading multiple banking institutions, with industry leading multi-family platforms serving the West Coast. “Our partnership with a mission-aligned MWOB platform like Basis removes barriers and expands our opportunities to deliver our full suite of products, services and solutions to the diverse majority minority communities we serve,” Gordon said. “Together, we are leveling the playing field and increasing our reach and capabilities to provide access to capital and credit that underserved Southern California communities desperately need.”
With few women and even fewer African American women in commercial real estate leadership positions, Basis has the unique status of being one of the only diversified CRE investment platforms in the country to be founded and majority owned. by an African American woman. Genesis Bank, which was originally launched in August 2021 and received its IMD designation in September 2021, is the first IDM established in its target markets since 2008 and is one of only two diverse and multiracial IDMs in the countries, from just under 5,000 banks in the United States
“Two minority platforms, like Basis and Genesis that join forces to increase access to capital and credit is powerful. We are proud to partner with one of the only diverse and multiracial MDIs, whose mission s aligns with ours – lending in communities often overlooked by mainstream providers – and the social impact and wealth generation that this access to capital creates,” said Tammy K. Jones, CEO and co-founder of Basis “Through our alliance, Genesis will have access to our additional multi-family and CRE loan products, uniquely positioning them to better serve their diverse customer base.”
Jones co-founded Basis in 2009 at the height of the global recession, as she sought to create an alternative lending platform that focused on diversification, not just in the company’s portfolio and investments, but among members. of the team. With its strong commitment to diversity, equity and inclusion, Basis has remained a leader in the IE industry in terms of what a thoughtful and intentional approach to diversity can produce and is committed to breaking down traditionally exclusive barriers to entry into this often exclusive industry. domain.
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