The Phares Company today announced Chris Callahan as its new owner, President and CEO. Established in 1991, the Phares Company, headquartered in Georgetown, Kentucky, is a nationally-recognized HUD and GNMA approved mortgage lender and loan servicer focusing on the multifamily and healthcare sectors. Under its new management, The Phares Company, soon to be renamed X-Caliber Capital, will offer a broader suite of products including bridge-to-HUD financing, subordinate and mezzanine debt financing, and access to preferred equity for real estate development.
“Our goal is to leverage the existing Phares platform, while incorporating the new team’s extensive experience in real estate finance. We believe the product will be a leading source of capital for multifamily and healthcare owners nationally,” says Chris Callahan, who most recently was head of Non-Agency and Agency CMBS and CLO trading at Credit Suisse. “Ford and Sharon Phares have built a great company and have an impeccable lending record. Customers should expect the same level of personalized customer service but with an even wider reach of financial tools at their fingertips.”
The new principals have provided capital in excess of $70 billion to the multifamily and healthcare sectors over their careers. “While there are many mortgage bankers offering similar products, I think it is our perfect blend of around-the-clock customer service, loan structuring expertise and execution that gives us our edge.”