Partnership will provide capital for technological growth and expand BPA’s presence as a premier high-end appraisal management company
StoicLane, a long-term growth platform making strategic acquisitions to support digitizing Finance, Insurance & Real Estate (“FIRE”), today announced an affiliate has completed the acquisition of Brentwood Property Appraisal (“BPA”), a leading appraisal management company focused on the high-end residential market in California, New York, New Jersey, DC, and Florida. Through this partnership, StoicLane will provide capital, operational expertise, and technological infrastructure to accelerate BPA’s growth in new markets and offer innovation to the appraisal industry.
“As we look to expand our business into new markets, we are thrilled to partner with the exceptional team at StoicLane,” said Mike Friedman, President and Founder of Brentwood Property Appraisal. “StoicLane is aligned with our vision in providing quality, integrity and excellence in all aspects of the appraisal business, and we look forward to this next chapter of growth.”
The announcement marks the second investment by StoicLane’s mortgage services affiliate. StoicLane seeks to serve mortgage originators with efficient and valuable tech-enabled, customer-centric mortgage closing solutions.
“In the past two-plus decades, BPA has carved out a successful niche in the high-end residential appraisal management sector, which is a key market for StoicLane,” said Al Goldstein, Co-Founder, CEO, and Chairman of StoicLane. “We are pleased to be collaborating with BPA’s talented leaders to continue driving client satisfaction with cutting-edge technology and seeking new opportunities within the appraisal industry.”
The Christensen Law Firm and Raines Feldman LLP served as advisors for Brentwood Property Appraisal. Jones & Spross PLLC, Kirkland & Ellis LLP and Alston & Bird LLP served as advisors for StoicLane.
About StoicLane:
StoicLane is a Chicago-based long-term growth platform making strategic acquisitions to support digitizing Finance, Insurance & Real Estate (“FIRE”). The firm works closely with its portfolio companies by harnessing the power of data and technology to bring better service and quality to consumers. To learn more about StoicLane, visit stoiclane.com.
About Brentwood Property Appraisal:
Brentwood Property Appraisal is the premier high-end appraisal management company covering the high-end coastal markets. BPA is a registered appraisal management company and offers all the appraisal compliance required by federal and state laws, as well as requirements of the GSEs. Founded in 1994, BPA is headquartered in Los Angeles, California catering to some of the world’s largest financial institutions, private banks, wealth managers and mortgage companies. For more information, please visit brentwoodappraisal.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20220111005371/en/
Contacts
Kristen Duarte
Prosek Partners
pro-stoiclane@prosek.com
