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September 16, 2021

New Western arrives in town

Based in Irvine, Texas, real estate investor and lender New Western was founded in the wake of the great recession and wave of foreclosures. It now calls itself largest private source of distressed investment properties in the nation, with about 18 offices nationwide. Now it's opening an office in Bellevue, the private firm announced, to be led by Ryan Bernhard, who was previously based in Houston. He said in a statement, “I am excited to move to such a diverse and inspiring city and introduce the market to New Western's offerings, which can help local real estate agents sell difficult properties, and provide investors with an inventory of unique properties to fix-and-flip or fix-and-lease.” In our market, the firm hopes to do $1.2 billion in deals over the next five years. New Western has two main arms: HomeGo, which buys from individual sellers; and Sherman Bridge Lending, which provides capital for value-add investors.

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