Boston, MA, September 9, 2005 - NewStar Financial, Inc. ("NewStar), a Boston-based commercial finance company, announces that it has provided a $35.0 million warehouse facility to Bayview Financial, L.P. ("Bayview"). Bayview is a full-service real estate investment and mortgage finance company that specializes in meeting the needs of real estate investors, mortgage companies, banks, savings institutions, and loan and securities brokers.
"We are pleased to be working with an industry leader like Bayview", commented Buck Burnaman, Head of NewStar's Structured Products Group. "We're backing an outstanding management team, with a record of accomplishment and innovation in the mortgage industry. They needed a flexible, multi-purpose warehouse that could accommodate the unique products that Bayview originates, so we worked closely with the Bayview team to provide a structured finance solution to meet their needs." Bob Wegner, Bayview's CFO, commented "This is our second transaction with NewStar. We are happy to expand our relationship with a firm that is flexible and creative in its ability to solve novel financing opportunities."
Joining Burnaman on NewStar's deal teal for the transaction were Robert Clemmens, Peter Benham, Bharath Srikrishnan, and Michael Chen.
Gaffney Bennett Public Relations