BridgeCore Capital, a provider of bridge loans on commercial and non-owner occupied residential real estate, hired Cory Gitt as managing director of loan originations. In this role, Gitt will be responsible for overseeing loan originations for BridgeCore’s recently launched nationwide program for middle-market loans ranging from $5 million to more than $30 million on stabilized and near-stabilized multi-family, industrial, life science and grocery-anchored retail properties. The program expands BridgeCore’s role as an alternative lender to traditional LifeCo financing.
Based in Los Angeles, Gitt has more than 15 years of relevant origination and underwriting experience in all property types and has worked in both the commercial bank and life insurance sectors. He will report directly to Elliot Shirwo, BridgeCore’s founder and principal.
During Gitt’s career, he has financed more than $7 billion of core, core-plus, value-add and opportunistic strategies on properties throughout the U.S. Gitt was most recently on Guggenheim Partners’ commercial real estate lending team. He began his real estate career at Wells Fargo before joining Woodridge Capital Partners.
“Cory has established himself as a respected professional in our industry with the highest degree of integrity among his peers, and we are delighted that he is joining our team,” Shirwo said. “Beyond his superlative technical abilities, he shares BridgeCore’s coveted practice that relationships come first.”
“I am excited to be a part of an experienced, professional team that is dedicated to not only getting the deal done but doing so with the highest quality of service and responsiveness,” Gitt said. “BridgeCore’s middle-market loan program represents an outstanding opportunity for me to leverage my knowledge and experience in the life insurance lending space to distinguish how BridgeCore’s program addresses investors’ needs in the current ’bridge-to-normal’ environment. Investors today are seeking greater flexibility in loan structure to allow them to refinance into permanent loans when rates decline or to sell when cap rates compress.”
