Bayview, Morgan Family Acquire Mortgage Banker BWE

A Bayview Asset Management fund and Springmont Capital, the private investment office of the family that owns Morgan Properties, have agreed to acquire a majority interest in the mortgage banking company BWE. BWE's executives will retain a minority stake in the business, with specific terms of the deal not disclosed.

BWE CEO and President DJ Effler, who is staying on as leader, stated that the company sought strategic partners to further strengthen its offerings and that the new partnership positions BWE for long-term expansion. The Ohio-based firm connects borrowers to lenders for commercial and multifamily real estate financing.

This acquisition marks the second for Bayview Asset Management, a credit-focused hedge fund with approximately $44.7 billion in assets under management, in the past year. Bayview previously purchased mortgage lender Guild Holdings in November. Springmont Capital, which is part of the Morgan family's investment office, has a history of investments in financial services, technology, and sports. Morgan Properties, based outside of Philadelphia, owns and operates more than 100,000 apartments across the United States.