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Summary

Commercial real estate executive with 30 years of mortgage lending experience across all institutional property types and demonstrated management and leadership skills evidenced by a track record of recruiting, developing and optimizing individual performance to create top producing teams and deliver extraordinary results.  A problem solver able to analyze at the organizational, market and transaction level and to execute efficient solutions to maximize competitive position and ensure high customer service.  Able to strategically and relentlessly adapt to competitive landscape as well as identify resources and develop relationships necessary to achieve objectives.  

Work experience

Senior Managing Director & Head of Small Balance Loan Originations

February 2018Present
RED Capital Group

Mr. Croul leads RED Capital Group’s multifamily small loan group where he is Head of Production charged with originations of Freddie Mac SBL, Fannie Mae SML and Red Portofolio Bridge loans and a mandate to reposition Red SBL into a Freddie Mac SBL market leader.  Since joining the company in February 2018, he has strategically grown the SBL team by doubling its size and coverage.  This has resulted to production volume in the last 90 days matching the company’s entire 2017 total and put the company on the fast track to achieve its long term target of $1B in annual Freddie Mac SBL production.  With a focus on long term sustainability of the platform success, Mr. Croul has aggressively retooled processes, procedures and policies to streamline operations, reduce costs and increase productivity.  He has also effectively leveraged his industry relationships to grow the company’s customer base and position it as a nationally recognized SBL lender.  

Senior Managing Director, Head of Production and Sales

2010-062017-05
FREDDIE MAC MULTIFAMILY - Los Angeles and Irvine, CA

Freddie Mac is the nation's largest multifamily capital provider with an array of permanent and bridge loan products as well as credit facilities offered. Its decentralized prior approval model requires each loan to be structured, priced, underwritten and approved at the regional level. Freddie Mac Multifamily is divided into four regions with the Western Region encompassing 13 states from the Rocky Mountains west, including Alaska and Hawaii. Freddie Mac's Western Region.

As Senior Managing Director of the Western Region and regional head of Production and Sales, Mr. Croul was responsible for the overall direction of the region and directly accountable for multifamily loan origination, pricing and structuring in the region along with customer sales and service.  Freddie Mac's decentralized structure enabled him to shape the region's overall direction and lead it to become a top performer.  He positioned the region to be the lender of choice by developing strong relationships with investors and mortgage bankers, navigating complex situations and building a reputation for efficient execution; served as Freddie Mac's spokesperson at numerous customer events, and public conferences, seminars and forums; and oversaw the day-to-day operations of the firm’s Los Angeles, Irvine, Denver and Seattle offices. 

Notable accomplishments:

  • Led the region to grow loan volume from $3.2 Billion in 2010 to $13.8 Billion in 2016.
  • Led the Multifamily division in annual profit in 2015 and 2016.
  • Led the Multifamily division as highest volume region in 2016, displacing Home Office for first time in company history.
  • Intensified region’s market presence by adding new offices in Irvine, Denver and Seattle.
  • Expanded the regional team from 16 to over 50 people.

Previously, Senior Director of Underwriting and Credit  and head of the regional underwriting team .

  • Responsible for underwriting and approvals of all loans in region with credit authority up to $50 Million.
  • Oversaw underwriting of over 700 loans and responsible for $14.3 Billion in loan approvals.
  • Held key advisory positions in company’s credit policy review team and Seller Servicer Advisory Council. 
  • Instrumental to product and policy development of Lease-Up, Value-Add and Fast Track Rate Lock programs. 
  • Developed customer training that evolved into annual Workshop in each region that attracts 2,000+ attendees annually.
  • Recruited, guided and mentored subordinates with numerous mentees now holding senior roles throughout the company.

Vice President, Finance and Capital Markets

20092010
LUCESCU REALTY - Newport Beach, CA

Lucescu Realty is a Newport Beach based boutique investment sales company specializing in institutional quality office and retail properties throughout Southern California and Nevada.

Mr. Croul launched and developed financial services group to provide opinions of value and disposition services to lenders, special services and receivers. He sourced and developed new relationships with key REO and asset management leaders and produced disposition opportunities.

Vice President, Mortgage Banking

20082009
CAPMARK FINANCE, INC. (nka Berkadia) - Irvine, CA

Capmark Finance was one of the nation's largest real estate lenders and mortgage banking companies. It was purchased out of bankruptcy by Berkshire and Leucadia in 2009 and is now a leader in US commercial real estate capital markets.

Mr. Croul originated, underwrote and structured wide array of permanent and bridge debt and equity products for Capmark Bank and correspondent life company lenders with both investor clients and mortgage banker contacts.

Vice President, Commercial Real Estate

20072008
Centerline Capital Group (nka Hunt Mortgage) - Irvine, CA

Centerline Capital was the culmination of a 2006 merger between CharterMac, a multifamily agency lender and ArCap, CMBS investor specializing in B-piece investments. It was acquired by Hunt Companies in 2013.

Mr. Croul launched Centerline's Commercial Real Estate lending origination platform focused on structured debt (bridge, mezzanine, b-notes product), joint venture equity, and CMBS debt origination with a primary focus on office, retail and industrial properties.  He sourced, underwrote and structured over $2 Billion in perm, bridge and mezzanine loans with primary focus on bridge financing for value-add repositions.

Notable achievements and Duties:

  • Led in establishment of production processes and procedures in post-ArCap/CharterMac merger environment.
  • Drove loan program credit parameters and created underwriting and production tools which were implemented as standard templates for the commercial mortgage origination team. 
  • Underwrote and performed due diligence for CMBS B-piece investments. (Centerline was top B-piece investor in 2007.)
  • Assessed asset level risk and assigned risk ratings to identify potential kick out loans.

Regional Vice President/Director, Real Estate Investment Group

19952006
John Hancock Real Estate Finance Group - Irvine, CA

John Hancock REFG is the US commercial mortgage group for Manulife Financial with 7 regional offices across the country and has approximately $12.5 Billion mortgage assets under management.

Mr. Croul led regional mortgage operations for John Hancock REFG for 12 years where he was head of debt originations and portfolio management for the Pacific Southwest Region. He opened, recruited and managed the regional office to establish a direct lending presence and led the transition from a correspondent lender model, developing an extensive investor and mortgage broker network with a loyal customer base created by a strong reputation and relationships driven by execution. 

Notable achievements and Duties:

  • Led company in debt origination volume for 10 years to grow region's loan portfolio from $300 Million to over $800 Million portfolio of middle market ($3 Million to $25 Million commercial real estate loans) with over $1.5 Billion in funded loans. 
  • Managed portfolio of performing and inherited watch list loans.
  • Responsible for region's annual collateral review and portfolio surveillance to monitor asset quality and rate collateral risk. 
  • Restructured non-performing loans to avoid collateral losses.
  • Responsible for asset management services such as loan assumptions and lease approvals.
  • Led in rewrite of credit policy.

Assistant Vice President, Real Estate Finance Group

19931995
CB Commercial (nka CBRE) - Newport Beach, CA

CB Commercial is predecessor of CBRE Group, Inc., the world's  largest commercial real estate services and investment firm.

Mr. Croul was an asset manager of Ætna Realty Investors’ $4 Billion western regional loan portfolio and a team leader for the $650 Million Southern California problem loan portfolio comprised of major loans ranging from $15 Million to $100 Million on office, industrial, retail, hospitality and self-storage properties including numerous landmark and trophy buildings in core Southern California markets.  He was responsible for collateral assessments and structuring loan workout solutions for non-performing and under-performing assets.

Senior Loan Officer

19861992
THE ALISON COMPANY - Newport Beach, CA

The Alison Company is a Newport Beach based full service mortgage banking company founded in 1934 with an extensive life insurance company correspondent network and CMBS relationships and 7 offices across the Pacific Southwest region.

Mr. Croul held a succession of increasingly senior mortgage banking positions in loan production and management and consistently led the company in loan originations.

Education