Two powerhouse service providers in the condo-lending space become one company
PHILADELPHIA–(BUSINESS WIRE)–CondoTek, the premier project document resource for lenders who provide condominium and cooperative loans, today announced that it has acquired National Condo Advisors (NCA), the nation’s leading condominium project approval service.
Together, the two companies will leverage their deep expertise in the condominium lending market and grow their customer base through product breadth and targeted services. Asher Kahn and Joshua Kahn, Co-Founders of CondoTek, will continue to lead the company and add Orest Tomaselli, who will take on the role of President of the Project Review Division.
CondoTek is nationally recognized as a technology and information firm that provides lender-focused real estate related products and services in the condominium and cooperative lending space. Their flagship product, CondoPak®, is utilized by large, mid-sized and small lenders throughout North America. With a heavy concentration on creating efficiency for lenders when underwriting condominium and cooperative loans, CondoTek will incorporate the experts from National Condo Advisors to provide best-in-class consultation to lenders, builders, developers, property managers and real estate firms as well as homeowners’ associations and institutional investors.
“We were drawn to National Condo Advisors because of their reputation for excellence and integrity in the real estate financing industry,” said Asher Kahn. “With NCA’s proven condo and co-op lending compliance expertise, significant resources and relationship-driven approach, we are confident we will be able to accelerate the growth of our business, further enhance our solutions and provide crucial services to even more clients.”
Led by Tomaselli, National Condo Advisors has tremendous experience in obtaining Fannie Mae, Freddie Mac, FHA, VA and Portfolio Lending condominium project approval. The company has received numerous industry awards for its leadership, heralded as industry experts and highly sought-after accomplished speakers; they are recognized as the best in the condo and co-op lending market.
“CondoTek has achieved tremendous success growing its tech-enabled product offering, CondoPak®,” said Tomaselli. “We are excited to partner with Asher and Josh and the rest of the talented team at CondoTek to support our shared vision of creating a seamless condo loan.”
CondoTek was founded in 2013 and operates in all 50 States.
The terms of the deal were not disclosed. Royer Cooper Cohen Braunfeld LLC acted as legal advisors to CondoTek in the transaction.
About CondoTek
CondoTek is a technology and information firm that provides lender-focused real estate-related products and services in the condominium space. With an emphasis on creating efficiency for lenders when underwriting condominium loans, CondoTek’s products and services are the perfect solutions for small, mid-sized and large lenders.
Contacts
CondoTek Media Contact
Gaffney Austin, LLC
Alyson Austin
alyson@gaffneyaustin.com