ORION Negotiates Greenlight’s Expansion at Irvine Towers
With stern eyes watching over the ups and downs in today’s housing and loan market, many observers are left on high alert, unsure of what to expect despite the industry’s daily reports. Alongside the struggle felt by residential brokers, finance professionals have felt the blow from the economic hit; however, as in all things that are down, the only way to go is up.
Using innovative tools and industry knowledge, the Irvine-based residential mortgage lender, Greenlight Financial Services Inc., looks beyond the hot trend of todays re-finance market by creating a path of their own. Reported by the Orange County Business Journal just this week, Greenlight states, ‘it’s found a sweet spot in the still-sour housing market.’ Though Greenlight does perform a high volume of refinance, Chief Executive Joann Pham explains, “We now want to develop the purchase line of loans [as opposed to refinancing] and develop other channels of business.”
Reports showing large gains within the company’s numbers and value of loans originated, Greenlight’s new line business is moving along strongly. With plans to expand both locally and nationally, Greenlight has brought on 150 hires just in the last four months putting them currently over 400 employees. “By June, we want to have 600 employees,” shares Pham. In addition to more staff members, Greenlight has negotiated to lease two additional floors in the Irvine Towers, occupying a total of 42,027 RSF. By the end of 2012, Greenlight plans to lease up to four floors of the building stating, “Eventually we’ll occupy four floors with a total size between 80,000 and 100,000 square feet.”
Greenlight Financial Services Inc., originated 7,500 loans worth $2.1 billion in 2011, giving a 50% increase from 2010. Pham credits the rapid growth to the loan’s good quality and large percentage of repeat customers whom are mortgage-savvy with good quality for loan origination.
Greenlight Financial Services Choose ORION Property Partners
ORION Property Partners, Jay Carnahan, Ashley Carnahan and Anthony Morreale, successfully represented Greenlight Financial through the lease transaction located at 18200 Von Karman Avenue in Irvine Towers. With agreement terms consisting of an expanded lease covering a total of 61,700 square feet and Top of building Signage, ORION continues to represent the number one leader in Orange County Commercial Real Estate’s office space for lease.
Signed into agreement on January 3rd, Greenlight’s estimated commencement date is currently scheduled for April 1st, 2012. As the leading commercial real estate brokerage, there is no question in the level of professionalism and overall industry marksmanship ORION brings to each of their clients. For ORION, “our involvement brings instant credibility,” and celebrates their continual success and client relationships.