Footwear businesses in the Southwest are in luck, as Wells Fargo & Company, a substantial provider to the shoe industry, said it has launched a new investor real estate initiative in that part of the U.S.
Via its “middle market banking” division, a spokesperson for the company specified that the investment expands the bank’s regional resources for Arizona, Nevada, New Mexico and west Texas in order to serve real estate investors with a devoted relationship manager.
“This is a great opportunity to better serve our clients’ real estate financing needs,” said Ivan Ferraz, a 13-year banking vet who will lead the initiative. His post will also encourage the middle market banking offices in the Southwest to nurture relationships with real estate investors as well as meet their specific lending needs.
The spokesperson noted that in addition to the real estate specialty within middle market banking, the company is an industry leader in commercial real estate through its commercial real estate business. The arm offers an across-the-board set of banking, financing and servicing solutions for clients throughout the U.S.
Neal Crapo, leader of the Southwest division for middle market banking, also offered his take on the expansion. “The Southwest’s active real estate market played a key role in Wells Fargo’s decision to add a local banker to serve Southwest companies.”
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