PORTLAND, Ore. – Sept. 18, 2019 –
OFFICE SERVES DUAL ROLE WITH CONCURRENT APPOINTMENT AS PRESIDENT OF SORFI LLC
Mike Ferguson has been named fund officer of the Sortis Income Fund, a real estate mortgage fund managed by Sortis Holdings Inc. (SOHI). With more than 20 years of experience, Ferguson oversees the fund’s loan operations and portfolio management, while providing analysis and underwriting of commercial and residential loan transactions consistent with its investment mandate.
Ferguson’s addition is anticipated to increase the Sortis Income Fund’s lending deal flow and enhance the management team’s underwriting expertise. Further, he is assuming the role of president at SORFI LLC, a wholly owned subsidiary of Sortis Holdings that specializes in producing loans considered for the fund. He will oversee all underwriting and management of credit risk.
“We’re excited to partner with Mike. In addition to his extensive senior-level experience running lending operations for a bank, he has been successful in helping to grow a private financing fund,” said Jef Baker, fund officer. “He brings bench strength in underwriting expertise and loan portfolio risk management, as well as significant loan deal flow to the Sortis Income Fund.”
Ferguson has amassed significant experience in residential and commercial real estate lending, including traditional and private money lending. For three years, he served as a senior analyst with Iron Bridge Lending, generating national loan deal flow for a private financing fund while underwriting loans and managing the portfolio’s internal loan servicing. Following Iron Bridge Lending, Ferguson was a senior credit officer at Northwest Bank, where he was responsible for managing the institution’s $560 million commercial loan portfolio as well as loan approvals and overall credit risk.
“The Sortis Income Fund has an enviable track record, consistently generating earnings that surpass its target, and it’s an honor to join the team and contribute to the fund’s well-considered investment approach,” said Ferguson, who assumed his role with the Sortis Income Fund on Sept. 6.
The Sortis Income Fund LLC is an unlevered real estate note fund that allows quarterly distributions or reinvestment at investor discretion. Liquidity is also available after an initial six months, subject to short term loan maturities in its portfolio. The fund is accessible via the Fidelity Wealthscape platform and directly from Sortis Holdings at www.sortisholdings.com/funds.
About Sortis Income Fund, LLC
Sortis Income Fund is an evergreen real estate loan fund offered through private placement to accredited investors. The fund is managed by Sortis Holdings, Inc. and it’s wholly-owned subsidiary, Sortis Financial, Inc. The fund conservatively focuses on holding real estate loans. Loans are originated and serviced by Sortis Financial, Inc., a nationally licensed servicer, originator and debt collector. Sortis has developed a broad network over years in banking and finance with deep roots in the Northwest and has earned a reputation as a high-quality private lender that can execute efficiently.
About Sortis Holdings
Sortis is a leading private investment firm specializing in alternative asset classes with a focus on real estate, both as a lender and direct investor. With its roots as a former bank holding company, Sortis has evolved into a diversified firm that both lends and opportunistically invests in the Western U.S. with a focus on Pacific Northwest. Sortis manages the $100M Sortis Opportunity Zone Fund, $100M Sortis Income Fund and the $10M Sortis Growth Venture Fund. Operating under the principles of sustainability, client focus, integrity, hard work and creativity, Sortis provides its accredited investors with expertly managed alternate investment strategies. Further information is available at www.sortis.com.